The price of shares in FTSE 250 wealth manager Brewin Dolphin (LON:BRW) climbed by 1.86% to 301.52p (as of 13:10 GMT) after it reported an 8% increase in funds over the three months ended 31st December. Management said that the growth was fuelled by strong investment performance and the company is continuing to benefit from cost savings across the board.
CEO Robin Beer commented: “We had a strong start to our financial year and saw growth across both our direct and indirect business. We are consistently delivering positive inflows, even with the tightened social distancing restrictions imposed in November and December 2020. Broadening our distribution channels continues to add value, with momentum across both our ‘Powered by Brewin Dolphin’ solution and our recently launched Brewin Dolphin Voyager funds. We remain on-track with the implementation of our custody and settlement system to be completed in the Autumn this year. With a Brexit trade deal behind us and the rollout of vaccinations in the UK, market sentiment is starting to improve, and we look forward to benefiting from this recovery over the coming year“.