Brewin Dolphin’s advisory fund service has shrunk 15% year-on-year, with the division losing 5.6% in the past quarter, according to the group’s latest trading update.
The firm's total advisory funds have fallen to £1.7bn as flows remain flat over the quarter, however the annualised growth rate is down 22.2% in the past three months. Fees have also reduced in the advisory service, down 18.2% compared with the same period in 2020, with commission a third lower than last year. A Brewin Dolphin spokesperson said: "Advisory is our legacy business and now represents only 1% of our business by revenue. It has reduced over recent years as clients have moved to our discretionary business which is performing well and has seen strong flows." Commission has...
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