UK-based wealth management firm Walker Crips Group has reported that its assets under management (AuM) were £1.25 billion for the fiscal third quarter ended 31 December 2013, an increase of 33% compare with £0.94 billion a year ago.
The wealth manager in its interim management statement said that the group’s turnaround strategy continues to deliver results as like-for-like revenue increased by 16.3%, reflecting the underlying growth in its business.
Net unadjusted revenue over the quarter increased by 6.4% to £3.47 million compared with the £3.26 million achieved in the same quarter last year.
The group’s proportion of non broking income for the quarter was 55.1%, compared to 53.9% for the same period a year ago on a like-for-like basis.
The group said it remains in a strong financial position with more than £10 million of net cash on its balance sheet, an important factor in both attracting new revenue generating investment managers and advisers and in pursuing its growth plans organically and through suitable acquisitions.