Profits up at Brewin Dolphin following volatile year in markets
Wealth manager Brewin Dolphin has reported a full-year profit after a year of volatile markets due to the coronavirus pandemic.
Pre-tax profit for the year ending 30 September rose to £78.2m up from £75m a year earlier.
In July Brewin Dolphin started to see an improvement in investment returns and net inflows after the coronavirus had already fuelled demand for integrated wealth management services.
Total funds under management at the firm climbed to £47.6bn for year from £45bn a year earlier.
The business said that though coronavirus had created economic uncertainty and market volatility, growth at the company remained strong. In 2021 it expects the business to grow by mid-single digits.
Chief executive Robin Beer said: “Our objective is to help people build financially sustainable futures whilst achieving peace of mind. This could not have been more welcomed by our clients in a year which saw markets fall during the initial peak of the COVID-19 pandemic. Whilst markets have recovered from those levels, continued volatility remains a likelihood until the pandemic is under control.
“Looking ahead to FY 2021, we’re prioritising our digital agenda, so we can innovate and explore ways to improve client and advisor user experiences.”