In an update this morning, Brewin revealed AUM increasing to £42.3bn for the third quarter, up from £40.1bn last year.
Brewin reported that its discretionary funds, which increased £700m or 7.3%, combined with positive investment returns and organic inflows, drove its total income to a record £82.4m, up 8.9% from £77.3m a year ago.
Core funds also increased by 7.3% to £40.9bn, with core income up 11.2% to £82.2m from £73.9m during the same period last year.
Meanwhile, Brewin’s managed portfolio service (MPS), which slowed earlier this year, saw £500m in inflows, driving assets up to £2.8bn over the quarter.
Additionally, new discretionary funds including transfers came in at an annualised growth rate of 8.2%, up from 7.6% in Q3 2017.
Total fee income growth also rose 7.6% to £59.2m from £55.0m, while total commission income was at £18.3m from £16.7m, following increases in transaction levels.
David Nicol (pictured), chief executive said: “We are particularly pleased to have achieved another period of strong discretionary funds inflows which, combined with positive investment returns, has driven total income to a record £84.2 million for the quarter.
“The significant and evolving need for financial and investment advice in the UK continues to support our strategic direction and we remain confident in the outlook for the business.”
