British wealth manager Brewin Dolphin’s total funds stood at £41.5bn at the end of the first quarter of fiscal 2018, an increase of 14% compared to £36.4bn a year ago.
The firm managed £35.3bn of funds on a discretionary basis as on 31 December 2017, up 18% compared to £30bn in the comparable year ago period.
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The company’s total core funds were £39.2bn, a surge of 17% over £33.5bn reported a year ago.
Total income during the period was £79m, a rise of 11% from £71.3m last year. Core income rose 12% year-on-year to £76.2m.
Brewin Dolphin CEO David Nicol said: “The business has continued to perform well in the first quarter, maintaining the positive momentum we saw at the end of our 2017 financial year. Growth in total funds was achieved from continued strong inflows into our core services and positive investment returns for our clients.
“This has led to good overall income growth with the particularly strong growth in fee income more than offsetting the decline in commission income. The business remains focused on delivery of our strategic initiatives and we believe that our positive momentum will continue into the second quarter.”
