The wealth manager’s total funds under management and administration rose to £27bn, up 5.9 per cent compared with a 4.3 per cent increase in the MSCI Pimfa private investor balanced index over the same period.
Total revenue for the quarter rose by 8.1 per cent to £45.6m, and fee income increased by £5m to £35.5m.
The group now operates under three divisions: investment management services, financial planning services and central financial services. All three divisions posted revenue increases, which were 6 per cent, 21 per cent and 15 per cent respectively.
Paul Abberley, chief executive officer at Charles Stanley, said: “I am pleased to report that the group continues to display good forward momentum across all areas, with especially strong growth from our financial planning and central financial services divisions.”
The results mark a turnaround for the firm which reported a 40 per cent drop in pre-tax profits for the six months to November, partially blamed on the Financial Services Compensation Scheme levy.
The group posted pre-tax profits of £4.8m for the period, compared to £8.1m the year before.
The firm then enjoyed a 10 per cent uplift in its assets towards the end of 2020 as it benefited from a market improvement of more than £2bn.
In a quarterly trading update published on January 13, the company said its funds under management had risen by 10 per cent over the three months to December to £25.1bn.
Charles Stanley said this increase largely reflected a market improvement of £2.2bn as it recovered from the initial turmoil seen in the first wave of the coronavirus pandemic last year.