Third quarter growth for Brewin Dolphin

STOCKBROKER and wealth manager Brewin Dolphin saw revenues rise in the third quarter.

The group, which has around 50 staff in Manchester, said income was up 5% to £67m in the three months to the end of June, although this was lower than anticipated as a result of lower commission income.

Funds under management edged up to £36.7bn at the end of June, from £36.1bn in March.

Brewin Dolphin said inflows into its core discretionary investment management service of £1.1bn represented a growth rate of 7% year-on-year on an annualised basis.

The firm said: “The outlook remains positive as the transformation and growth strategy for the business is implemented. Solid performance in the quarter, underpinned by a robust balance sheet, gives us confidence that continued delivery against this strategy will create long term value for both clients and shareholders.”