British wealth manager Brewin Dolphin Q3 results show a pre-tax profit of £68.5m, an increase of 19% compared to £57.6m in the previous year.
The firm’s adjusted profit before tax stood at £77.5m, up 11% from £70m in the previous year.
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The rise was said to be partly driven by the firm’s takeover of Duncan Lawrie Asset Management last year.
Excluding the impact of the acquisition, statutory pre-tax profit increased 15% while adjusted pre-tax profit rose 7% on a year-on-year basis.
Total income for the period was £329m, a rise of 8% compared to £304.5m in the previous year.
Funds under management totalled £42.8bn at the end of September 2018, a rise of 7% from £40.1bn a year earlier. Discretionary funds increased 11% year-on-year to £37.6bn.
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By GlobalDataNet discretionary funds inflows, including transfers, matched last year’s figure of £2.3bn.
Brewin Dolphin CEO David Nicol said: “2018 was another successful year for the Group, proving the continued value of our personalised advice-led model. Above target organic fund inflows have led to strong earnings and dividend growth.
“The investment in our services, people and technology are delivering results and we have broadened our range of services so we can capture future growth opportunities. At a time of uncertainty we remain confident in our growth prospects.”
