View more on these topics

Charles Stanley grows advice revenue 20%

Charles Stanley has seen revenues at its financial planning division jump 20 per cent over the six months to the end of September.

Results released this morning show that the discretionary fund manager and platform provider made “continued investment in the expansion of the financial planning division”, generating turnover of £3.5m compared to £2.9m for the same period last year.

However, the financial planning division still turned a loss for the firm of £1.7m, compared to £7m profit for investment management services.

Charles Stanley says costs increased in financial planning because the firm has “invested in its capacity”.

Charles Stanley is one of a number of DFMs that also has in-house advisers. Others include Brooks Macdonald, Brewin Dolphin and Tavistock.

Charles Stanley’s results do not provide an indication of what proportion of flows into its DFM solutions come from in-house financial planners.

Chief executive Paul Abberley says: “Whilst the progression of our revenues and profit margin has been pleasing, we are fully focused on increasing the rate of improvement. In tandem with the efforts to improve the rate of top line growth by building higher margin assets and implementing revised pricing structures, we are also sharpening our investment capabilities in marketing and sales.”

Direct to consumer platform Charles Stanley Direct scraped into a profit of £200,000.

The firm sold its Sipp and SSAS arm EBS Management to Embark last year, which was accounted for in its financial planning division.

Recommended

11

FCA confirms PI policies cannot exclude FSCS

Advisers’ professional indemnity policies will no longer exclude Financial Services Compensation Scheme claims, the FCA has confirmed today. Some current PI insurance policies have excluded the FSCS as a claimant, or exclude claims where the firm provider or fund has become insolvent. Following feedback from a July consultation paper however, the regulator confirms changes to its handbook […]

L&G: Poor choice of pension product can lead to depression

Poor choice of pension products can make older Brits dissatisfied and depressed in retirement, research by Legal & General and Demos found. Analysis of the English Longitudinal Study of Ageing has found evidence of a link between health and well-being and the choices people make about how they use their pension savings. The research found […]

7

Pensions minister: Simple statements are long overdue

Making pensions simple for everyone to understand is one of my key missions as a minister. Simple, two-page, standardised pension statements, the pensions dashboard for online access to pensions information, an industry provided mid-life MOT are clearly the way forward. Traditionally, pensions are complex. We want to change this. If something is impenetrable, people shy […]

Money-UK-Currency-House-Monopoly-Property-480

Average house price falls by £5,222 in November: Rightmove

The average UK house price fell by £5,222 or 1.7 per cent in November, according to Rightmove. The property website tracks asking prices of properties coming on to the market and says prices are falling fastest in Britain’s wealthiest towns as Brexit uncertainty grips the property market. Rightmove reports that the biggest falls are in […]

BestOfBothWorlds

Best of both worlds: Blending active and passive

Looking to blend active and passive investment strategies? There are four key factors you need to know about, explains Ankul Daga, senior investment strategist with Vanguard Europe. Discussing the merits of active and passive investing with financial advisers, I am often surprised to discover how many are blending active and passive funds in their portfolios. […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com