Brewin Dolphin sees record quarterly discretionary inflows

Inflows of £600m

Wealth manager Brewin Dolphin has seen record quarterly discretionary inflows of £600m in the three months to 31 December, Q1 of its financial year, as it continues to refocus its business on core services.

The wealth manager said inflows had been strong from all channels, with total net discretionary inflows reaching £300m excluding transfers, representing 4.8% annualised growth. Meanwhile, its total funds grew by 3.8% to £33.2bn during the quarter, up from £32bn at the end of September. The group also said the rate of outflows from discretionary funds has stabilised, hitting £300m during the quarter. Brewin's research team shift underweight UK equities for first time since 2010 The firm has seen a 3.1% growth in core income to £60.6m, driven by organic fund flows and improved tran...