Rathbones saw its funds under management and administration rise nearly 25 per cent in the year to December 31.
In a statement to the stock exchange this morning (January 11), the firm saw the figure rise to £68.2bn, a 24.7 per cent rise compared with 2020.
This included £4.9bn of funds that became part of Rathbones after the acquisition of Saunderson House in October last year.
Funds under management rose 32.7 per cent in Rathbone Funds, to £13bn, and the firm’s investment management business saw a 12 per cent rise to £50.3bn.
In the statement today, the firm hinted at further acquisitions, saying: “Rathbones remains in a strong position to continue delivery of strategic initiatives, secure the delivery of our ambitions for Saunderson House, and explore further opportunities to drive growth.”
In June last year the group announced it had agreed to buy advice firm Saunderson House for £150m, which saw Rathbones’ in-house financial planner numbers increase from 25 to 80, and added around 2,200 clients with an average portfolio size of £2.2m.
After the acquisition, the chief executive told FTAdviser it had a surplus cash “cushion” of £60m if the company wants to do more deals.
Paul Stockton said the company was "looking to grow, but it is not just about buying anything that comes up.”
sally.hickey@ft.com
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