Wealth management company Charles Stanley had outflows of £300m in the three months to the end of December.
The company had assets under management or administration of £25.3bn at the end of 2019.
Charles Stanley saw outflows of £300m during the three month period, but positive market movements saw its assets grow by £1bn - leaving the company with a net growth in assets of £700m.
The company posted revenue of £42.7m, up 14 per cent on the same period in 2018, as a result of higher fee income.
In May 2019, Charles Stanley announced it was embarking on an extensive restructuring, with the aim of cutting costs and increasing its profit margin.
The restructuring costs of £9.5m are being spread over multiple financial years, including this one, and the aim is to eventually save £4.5m a year and achieve a profit margin across the business of 15 per cent. The restructuring has already involved making a number of roles within the company redundant.
Paul Abberley, Charles Stanley's chief executive, said: “Growth in funds under management and administration over the third quarter mainly reflected market improvements.
"Group revenues have continued to improve year-on-year benefiting from higher trading volumes, market volumes and repricing, and our transformation programme is on track."
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