Brewin Dolphin Holdings PLC (LON:BRW) reported an 8% increase in assets in the past quarter thanks to rising markets and positive net inflows.
Total funds stood at a record £51.4bn after the three months to end-December, the first quarter of the discretionary wealth manager’s financial year, having grown 15% in its prior full year.
Total discretionary funds rose 8.3% to £44.6bn, with net inflows of £0.1bn.
Quarterly income increased 7% to £95.9mln thanks to strong market performance in the quarter and continued high levels of commissions, with discretionary income up 5.9% and up 11.8% for the much smaller financial planning arm.
Brewin said it continues to benefit from some cost savings across the business as social distancing continues.
Chief executive Robin Beer said: “We had a strong start to our financial year and saw growth across both our direct and indirect business. We are consistently delivering positive inflows, even with the tightened social distancing restrictions imposed in November and December 2020.”
He said the implementation of a custody and settlement system was on-track to be completed in the autumn.
“With a Brexit trade deal behind us and the rollout of vaccinations in the UK, market sentiment is starting to improve, and we look forward to benefiting from this recovery over the coming year," he added.