Brewin Dolphin shares take a dive

FTSE 250 Brewin Dolphin Holdings (LON:BRW) has seen its share price fall by 4.61% to 306.20p (as of 13:20 BST) after profits before tax and adjustments dropped by 8.2% for the six months ended 31st March. Total funds where slightly below the start of the period, but were ahead of the same point of last year.

Chief executive David Nichol said: “In the first half of 2019, the Group has continued to deliver strong and resilient organic growth, even with the backdrop of volatile market conditions. This is demonstrated by the strength of our discretionary funds flows. Our strategy of focusing on our advice-led wealth management service in the direct market continues to deliver results.

“We are investing in our business to support future long-term growth. Over the past few months we have announced the replacement of our core custody and settlement system and a number of acquisitions. These initiatives are laying the foundations for long-term growth and will ensure that we are well placed to capture market opportunities“.