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Wealth management company Brewin Dolphin reported a rise in total funds as 'strong' fund inflows continued in the first quarter of the year.
Total funds increased by 3.7% to £59.0 billion, up from £56.9 billion last year, as income rose 8.9% to £104.4 million, driven by higher funds and strong market performance.
Discretionary inflows were £1.0bn, led by both the company's direct and indirect businesses, with around 65% of discretionary fund inflows coming from new clients.
'We are making good progress on the final phase of integrating the custody and settlement system with our client management and trading systems,' the company said.
'The old system is still scheduled to be switched off in the summer of this year, and our capex spend is in-line with our FY 2022 guidance.'