British wealth manager Brooks Macdonald has reported a pre-tax profit of £10.6 million for the year ended 30 June 2014, an increase of 2% compared with £10.4 million a year ago.
The group’s assets under management jumped to £518 million from £390 million at the end of June 2013.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Its property assets under administration were up 9% to £1.13 billion while its fledgling third party funds administration business grew from £140 million to £200 million.
Advisory assets rose from £348 million to over £450 million year-on-year, which generated income of £3.8 million.
The wealth manager’s revenue rose to £69.1 million from £63.2 million. Administrative expenses rose to £58.2 million from £52.7 million.
The group is expected to pay a final dividend of 19p per share. This will take the total dividends for the year to 26p per share.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataBrooks Macdonald CEO Chris Macdonald said: "After the considerable changes within the industry in recent years, this has been a year where the business has continued to evolve, invest in the future and grow funds under management and administration.
"We will continue to invest in systems development and remain optimistic for new business flows. New business has started the year well and the board remains confident for the future of the group."
