Brewin Dolphin funds boosted by discretionary arm
Stockbroker and wealth manager Brewin Dolphin said funds under management increased by 3.8% since 30 September 2011, with discretionary funds up 5.1%.
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.
Subscribe to 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.
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
How do stablecoins work – and are they risky business?
Stablecoins – cryptocurrencies backed by real assets – are all the rage and have been enthusiastically backed by Donald Trump’s administration. Are they a danger to financial stability?
-
Reeves expected to review pension contribution rates in Mansion House shake-up
Chancellor Rachel Reeves is expected to kickstart her long-awaited pensions adequacy review, which could involve increasing workplace contribution rates above 8%