British wealth manager Brewin Dolphin's total funds stood at £36.4bn at the end of the first quarter ending 30 September 2017, up 9.6% compared to £33.2bn a year ago.
The wealth manager’s net discretionary fund inflows were £500m during the quarter, compared to £300m a year earlier.
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The company’s total core funds increased by 3.4% in the quarter to £33.5bn.
Total income during the period was £71.3m in the first quarter of 2017, a 6.1% rise from £67.2m in the corresponding quarter of 2015. Core income increased 12% year-on-year to £67.9m.
Brewin Dolphin CEO David Nicol said: “Momentum behind our growth strategy has continued to build during the first quarter and it's been a pleasing start to the financial year.
“Continued net organic growth in funds, driven by increasing inflows into our core discretionary service and a reduction in discretionary outflows, underlines the strength of the business during uncertain market conditions.
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By GlobalData“The solid performance is underpinned by a commitment to deliver on our clear strategy. The progress we are making combined with our financial strength gives us confidence in our long-term prospects.”
