Meanwhile, over the same period managed funds increased from £9.3bn to a new high of £11.1bn, while the FTSE 100 and the WMA Balanced Portfolio Index rose by 5.3% and 2.8% respectively.
In its earnings statement, the company said its revenue for the quarter ending on 31 December increased 18% to £36.7m, from £31.1m recorded in the same quarter last year. This was primarily due to an increase in commission revenue, which rose by 12.9%, as well as a 21.4% rise in fee income.
Despite signalling overall growth and recovery, the group said that costs continued to rise during the period, as a result of expanding the firm and industry costs.
In November 2013 the company acquired Evercore PAN Asset Capital Management Limited, which offers asset allocation advice across an extensive range of global asset classes. It also specialises in the use of passive, or index tracking, investments.
