Rathbones’ latest results show that the acquisition of Speirs & Jeffrey has helped to boost AUM by £6bn. At the end of Q3, the firm’s funds stood at £47.3bn after adding on £6.7bn from the merger.
If the acquisition had not have been completed, Rathbones says it would have reported a 1.8 per cent increase in funds under management. Some fund managers had reported on outflows following the 1.7% dip in the FTSE100 over the last quarter.
The firm’s net operating income came in at £80m for the three months ended 30 September 2018, which was up 14% from £71m in Q3 of 2017.
Rathbones chief executive Philip Howell says the firm is mindful of recent volatility in investment markets but the additional scale from its acquisition puts the firm in a strong position to continue to improve service to clients.
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Gunner & Co. work with IFAs looking to sell their business, and can give you more information if you wish – contact louise.jeffreys@gunnerandco.com
