Broader offering bears fruit for Smith & Williamson

The broadening of both the depth and scope of its client offering has paid off during a very volatile six months said David Cobb, co-chief executive of Smith & Williamson.

Broader offering bears fruit for Smith & Williamson

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 Reporting its results for the first half of its financial year to end October, Cobb said, the launch of investment management business from its Jersey office and a number of strategic senior hires was instrumental to it achieving growth across the board.

Group operating profit jumped 10% during the period from £106.5m to £117.5m, while adjusted operating profits within its investment management and banking division rose 21%. Funds under management and advice rose 11% to £17.8bn.

While Cobb said the firm expects further stock market fluidity over the coming months due to likely uncertainty arising from elections in Europe, a new US President and the much anticipated triggering of Article 50, it expects that growth to continue.

Kevin Stopps co-chief executive of Smith & Williamson, added: “Investing in our people, platform and resources, including strategic acquisitions, for the long term benefit of our clients, remains a priority. We are particularly excited about opportunities to support Britain’s scale-up businesses, our active partnership with the ScaleUp Institute and our family office initiative.”

 

 

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