Brewin Dolphin total funds rise in first quarter

Wealth manager Brewin Dolphin on Thursday reported a first quarter 3.5% increase in total funds to £41.5bn, assisted by strong inflows to core services.

Total fee income was up 15.0% to £59.2m. Discretionary funds increased by 4.4% to £35.3bn, while net discretionary funds inflows, including transfers, grew 8.3% to £0.7bn on an annualised basis.

Core income was £76.2m, up 12.2% year-on-year, driven by strong year on year growth in core funds and financial planning income, which increased 33.3% to £6m.

Total fee income grew 15.0% to £59.2m, while total commission income fell 10.5% to £13.6m "in line with recent trends", Brewin said.