Charles Stanley 'optimistic' as revenues jump by a third

Charles Stanley has reported a jump in revenue over the first quarter of its financial year, pointing to growing FUM and increased investor confidence.

The wealth manager revealed a 31% increase in revenue for the three months to 30 June 2013, at £36.9m compared to £29.2m for the same period the previous year. Higher levels of funds under management and "an increasingly confident market" helped lift both fee and commission income levels, the group said. Fee income rose by 30% compared with the same period last year, and represented 59% of total revenues over the reporting period. Client funds totalled £17.66bn, a fall of 0.3% from the figure of £17.72bn posted on 31 March 2013. Within this figure, discretionary managed funds ...