River and Mercantile nears £7m in performance fees

River and Mercantile has estimated performance fees will come in at nearly £7m for the last nine months as it moves from a more cautious position into a more aggressive strategy for investors.

The asset manager suffered a setback when it was fined for competition law breaches by the FCA in February, but results this morning show it has bounced back with 6 per cent growth in fee earning assets under management for the first quarter of 2019.

For the first three months of the year, investment performance generated £1.1bn.

The firm expects to earn £500,000 in fiduciary management performance fees for the period. Over the past nine months, it is anticipating this value to be £4.9m, with a further £2m from equity solutions performance fees.

River and Mercantile chief executive Mike Faulkner says: “Having positioned our clients cautiously in previous periods, I stated in the last trading statement that our macroeconomic signals indicated that risk assets were likely to provide positive returns. We therefore adapted our client portfolios accordingly and were able to capture the market returns for them. This ability to respond quickly to asset allocation opportunities is one of our key differentiating capabilities.

“We continue to have a positive outlook for equity markets from here and the results this period position us well for the final quarter of our financial year.”



Are the ‘big bad banks’ making a comeback?

As lenders face the threat of digital disruption, returning to the advice market could be a way to find new revenue streams The financial services sector is on the hunt for innovation, growth and redevelopment a decade on from the global economic crisis. In the UK, the lasting effects on banks of 2008 through to […]


How to become a financial adviser: diplomas, degrees and workplaces

Information on how to become a financial adviser is sparse. Money Marketing speaks to advisers about what the requirements really are and how best to meet them. Speaking to financial advisers and planners today, each will have a unique and varied story about how they entered the profession. There are more than a handful of pathways […]


Profile: ‘Someone booed me when I said I was a financial adviser’

Grosvenor Consultancy IFA Alice Douglass on the highs and lows of networking as a financial adviser Traffic wardens, tax inspectors, estate agents and journalists – all people doing jobs that the general public love to hate. But what is it about being a financial adviser that provokes such strong negative reactions from some people too? […]

Business people

BNY Mellon distribution head departs

BNY Mellon’s head of distribution in the UK and Ireland Fergus McCarthy has stood down from the position. He is currently on gardening leave, but it is unclear at this stage where his next role in the industry will be. McCarthy was poached from his sales manager role at Martin Currie to become sales director […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    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