Rathbone Brothers is to focus on its presence with advisers after reporting a 42 per cent growth in business coming from advisers in the first half of this year.
The FTSE 250 investment management firm saw £153m of its £201m inflows in the period coming from advisers, compared with £108m of the inflows a year ago.
Higher profit margins and asset growth also boosted the dividend to be paid by Rathbones by 8 per cent.
The information was contained in the half year report of the company, released to the market this morning (25 July).
The company reported a profit of £48.3m in the six months to the end of June, an increase of 11.5 per cent. Its profit margin was 31.5 per cent, compared with 30.4 per cent in the same period last year.
This allowed the board to recommend a dividend of 24p, compared with 22p in the previous period.
The total funds under management were £39.9bn, representing 2 per cent growth year on year. The unit trust business accounted for £5.8bn, an increase of £500m, of which £299m were inflows.
The company said this growth was driven by its Income fund, Ethical Bond fund, and Global Opportunities fund. Each of those funds now holds more than £1bn of assets.
Philip Howell, chief executive of Rathbones, said: "The first half of 2018 has been a busy one for Rathbones as we progressed a full project agenda and announced the acquisition of Speirs & Jeffrey whilst maintaining our focus on day-to-day operations.
"We remain confident in the outlook for the business."
Rathbones bought Speirs and Jeffrey, one of Scotland's largest wealth management firms, for £105m in June, in a deal that has boosted the firm's assets by almost a fifth.
Stuart Duncan, analyst at Peel Hunt, said Rathbones offers a "very traditional" service to its clients, which was a key part of its appeal to advisers.
david.thorpe@ft.com
