Brewin Dolphin model portfolio inflows up more than 50%

Brewin Dolphin grew inflows into its model portfolio services by more than 50 per cent over the past 12 months as it reports continued inflows into all of its business channels.

Over the past 12 months, the model portfolio service at the wealth manager reported the highest inflows for the business, which increased more than 50 per cent to £2.5bn from £1.6bn in December 2016.

This month the wealth manager said it was cutting costs by up to 18 basis points on funds in its managed portfolio service as it introduces segregated mandates for core asset classes.

The adviser channel also significantly contributed to the yearly flows increasing by 26.5 per cent to £6.8bn.

Over the past three months, the firm has seen a total increase of 3.5 per cent to £41.5bn into its funds.

Discretionary fund inflows increased by 4.4 per cent to £35.3bn, up from £33.8bn at the end of September, the firm reported.

Core income from discretionary investment management, financial planning, and Brewin Portfolio Service rose 12.2 per cent to £76.2m versus the income of the first quarter of 2017 of £67.9m. This was driven by growth in core funds and financial planning income which was up 33.3 per cent to £6m.

Brewin Dolphin chief executive David Nicol says:”The business has continued to perform well in the first quarter, maintaining the positive momentum we saw at the end of our 2017 financial year. Growth in total funds was achieved from continued strong inflows into our core services and positive investment returns for our clients.

“This has led to good overall income growth with the particularly strong growth in fee income more than offsetting the decline in commission income. The business remains focused on delivery of our strategic initiatives and we believe that our positive momentum will continue into the second quarter.”


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