Charles Stanley has reported a 6.5 per cent increase in discretionary funds for the year, but has seen a marginal fall in the amount of execution-only funds it manages.
Results released the morning covering the twelve months to the end of march show discretionary funds increased from £12.3bn to £13.1bn, while execution-only funds dipped from £8.3bn to £8.2bn.
Despite online execution-only platform Charles Stanley Direct ending the year 15.3 per cent higher at £2.7bn, this was more than offset by outflows from traditional voice-brokered execution-only services.
In the most recent quarter, overall funds under management were up 5.7 per cent to £24.1bn. Charles Stanley attributes this to new client inflows of £300m and investment performance gains of £1.6bn overtaking outflows of £600m.
Results at the end of last year showed Charles Stanley was also taking increased revenue from its in-house financial planning division.
The firm recently hired former Quilter director John Porteous to spearhead its distribution team.