Rathbones tightlipped on Jupiter wealth arm as profits jump 15%

Rathbones has reported a 15% increase in pre-tax profit for 2013, to £44m, but its interest in a potential purchase of Jupiter's private client business remains uncertain.

Announcing a 4.3% increase in its full-year dividend, to 49p, the group said total funds under management (FUM) had risen by over 22% last year to £22bn. That latter figure was helped by the acquisition of Taylor Young Investment Management's £400m private client base, but Rathbones was not drawn on its interest in other deals. With a sale of Jupiter's own private client arm now thought to be imminent, that may point to different priorities for Rathbones this year - despite its rumoured interest in the business. Following two years of growth driven "both organically and by acquisit...