Brewin Dolphin's commission slides as AUM creeps higher

Over the period, the private client wealth manager reported income of £59.7m, 6.3% lower than the 14-week period to 31 December 2010. However, on a like for like (13 weeks) basis, income increased by 0.8%, the group said. Funds under management have increased by 3.8% to £24.9bn since 30 September 2011, with discretionary funds up 5.1%. Brewins also saw a 24.4% drop in commission income, which it attributed partly to subdued market activity over the quarter. As at 31 December 2011, the group had £36.2m in cash, excluding client balances. The disposal of Brewins’ corporate and ...