The planned reduction in trail income post RDR, however, resulted in a drop in ‘other’ income, from £14.2m to £9.5m, a 33% decline.
Parmenion results, released earlier today, revealed RDR had helped its business over the past year – find out more here.
Year to date Brewin Dolphin has made £212.3m, 11% more than over the same period last year (£191.6m), and core fee and commission income of £182.3m, 21% more than the £150.1m made up until the same point last year.
In a statement to the stock exchange, the firm said it had made substantial progress in its efforts to move towards standard national pricing. It also said the anticipated increase in outflows from advisory services materialised, totalling £0.4bn for the quarter.
Its discretionary management service attracted net inflows of £0.2bn, however, bringing the nine-month total to £0.7bn.
Funds under management declined by 2.1% in the quarter, which is being partly attributed to the quarterly decline in equity markets.
The group has raised £38.6m via a placing order implemented to increase capital levels during the quarter.
