Assets under management hit at Brewin Dolphin - Business - Evening Standard
       

Assets under management hit at Brewin Dolphin

Private client broker Brewin Dolphin gave a masterly understatement today when it said: "The fourth quarter has seen difficult market conditions."

The company's assets under management fell by 4% in the last three months to £24 billion, but are still ahead of the £23.2 billion they stood at a year ago.

Brewin Dolphin said that it had spent £3 million on a major review of its business which has led to a new, three-year plan.

The first stage of this is to put all clients on a single national charge scale which will happen through 2012. This will bring it into line with bigger competitors.

The firm also said that the sale of its corporate advisory and broking division remained on track to be completed by the end of this year.

The division has remained profitable through the summer of turmoil on financial markets.

Brewin Dolphin's shares gained 3.3p to 117.1p.

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