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Discretionary wins boost income at Brewin Dolphin

BusinesswomanDiscretionary funds inflows and strong investment returns have driven Brewin Dolphin’s total income to a record £82.4m for the third quarter of the financial year.

Total fundsunder management in the quarter increased 6.5 per cent to £42.3bn for the wealth manager with discretionary funds increasing by 7.3 per cent.

New discretionary funds including transfers came in at an annualised growth rate of 8.2 per cent, up from 7.6 per cent in Q3 2017.

Brewin Dolphin chief executive David Nichol says: “We are particularly pleased to have achieved another period of strong discretionary funds inflows; it has been another excellent quarter in which we have continued to deliver on our long-term organic growth strategy.”

The wealth manager recently acquired Dundee-based financial planning firm Clark Thomson Mortgage Finders, bringing 150 new clients through the deal.

Nichol says: “The significant and evolving need for financial and investment advice in the UK continues to support our strategic direction and we remain confident in the outlook for the business.”

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