Stockbroker and wealth manager Brewin Dolphin said funds under management increased by 3.8% since 30 September 2011, with discretionary funds up 5.1%.
Total managed funds rose to £24.9bn after a £16.4bn injection from its discretionary investment arm.
Income for the first 13 week quarter to 31 December 2011 was £59.7m, 6.3% lower than the 14 week period to 31 December 2010.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Brewin said market activity was generally subdued in the first quarter and this is reflected in the group's results by a 24.4% drop in commission income.
"This trend has continued into January 2012, but other income has held up well benefiting from the scale of the business and our focus on the individual requirements of our clients," said Brewin in a company statement.
The group said its strategic initiatives continue to be implemented to plan and the benefits of moving to the new company-wide charging structure will now start to come through.
Cash balances, excluding client balances, were £36.2m as at 31 December 2011. The capital adequacy surplus was £18.7m.
-
Could your family be at risk of an unexpected tax bill? How to keep your loved ones in the loopMany families are out of the loop when it comes to planning the financial aspects of both retirement and inheritance
-
Rightmove: Glut of homes for sale in southern England drives asking price dropAsking prices are 0.1% lower than a year ago, according to the property website, driven by challenges in affordability-stretched London and the south
