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Brewin Dolphin hit by senior research resignations

Brewin Dolphin financial planning divisional director James Brooks and financial planning research analyst John Sheehan have resigned from the firm.

Brooks had been with Brewin Dolphin for seven years and was responsible for financial planning product recommendations.

Sheehan joined the firm in February 2012 and was responsible for tax wrapper and product research.

Brewin is yet to decide whether to seek replacements for the pair who are set to take new jobs within the financial services sector.

A Brewin spokeswoman says: “They have both resigned and leave with our best wishes for the future.”

In December Brewin announced it was to stop offering investments services for clients with less than £50,000 in investable assets. The move followed a review where Brewin contacted clients and requested discussions over the most suitable service for them.

The firm’s preliminary accounts showed pre-tax profits fell 4 per cent to £28.6m in the 12 months to 29 September, down from £29.9m the previous year.

Brewin’s preliminary accounts show redundancy costs rose sharply to £4.8m from £570,000 in 2012.

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