Its total, funds grew from £35.4bn to £40.1bn for the year ended 31 September 2017, thanks to the “strong organic flows” of its intermediaries and managed portfolio service (MPS) channels and its acquisition of Duncan Lawrie Asset Management.
After excluding the funds acquired from Duncan Lawrie AM, which added £700m to its assets under mangement, total funds were up 11.3%.
Its managed portfolio service registered the largest growth in flows, attracting an additional £1bn in client money, pushing it over the £2.3bn threshold.
Overall, its intermediaries and MPS business accounted for 91.3% or £2.1bn of net discretionary funds inflows during the year.
The group’s profit before tax was 15% higher than the year prior, expanding to £57.6m.
On the back of its “record fund growth”, the firm said it will hike the final dividend by 17.5% to 10.75p per share, taking the full year dividend up 15.4% to 13.0p.
“2017 was a successful year for the business,” said David Nicol, Brewin Dolphin chief executive.
“Building on the focus and discipline of past years and supported by continued positive markets, we have delivered a strong financial performance underpinned by record fund growth. I’m particularly pleased to report above target organic discretionary fund growth demonstrating the progress we are making with our strategic initiatives.
“The rate of change in our market environment is accelerating, driven by changing client needs, continued evolution of financial regulation and government policy. Against this backdrop, our advice-led proposition has enduring relevance for customers in uncertain and complex times.”
