British wealth manager Charles Stanley has reported revenue of £36.7 million for the fourth quarter of 2013, an increase of 18% from £31.1 million in the year ago period.

The firms reported a 12.9% increase in commission revenue and a 21.4% rise in fee income making up the overall revenue growth in the quarter.

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Fee income represented 62.4% of the overall revenue which Charles Stanley said is in line with its strategy of diversifying revenue base.

At the quarter end, total client funds reached to £20.1 billion, an increase of 13.4% over the nine months since 31 March 2013.

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