Progress on growth strategy:
Strong growth in discretionary FUM led by continued success of intermediaries business
Benefits of integrated advice demonstrated by 21% growth in financial planning income
Announced a clear strategy to deliver continued growth in direct private client business based on detailed market segmentation analysis
Implemented enhanced client advice process
Office consolidation completed - larger teams, more efficient portfolio management
Launched lower cost investment solutions
Sale of Stocktrade - business focussed on core wealth and investment management
Declaration of dividend
The Board proposes a final dividend of 8.25p per share, to be approved at the 2016 AGM and payable on 11 March 2016 to shareholders on the register at close of business on 19 February 2016, with an ex-dividend date of 18 February 2016. This takes the total dividend for the year to 12.0p per share.
David Nicol, Chief Executive, said:
"This has been a good year for Brewin Dolphin, as we continued to provide a transparent, convenient service that delivers real value to our clients. This underpinned growth in our core business, our profitability and returns to shareholders."
"Initiatives to enhance key aspects of our business have culminated this year with the renewal of our client advice process and are now substantially complete. Expansion is now firmly on our agenda and we are in a strong position to take advantage of opportunities."
"Trusted, personalised advice to clients and high quality investment management, delivered through a local presence, remain key to our future success. Our people operate in a business with financial strength and genuine scalability and have a genuine commitment to help clients achieve their goals."
"The business is in great shape, with the foundations and resources to pursue our growth ambitions. Our belief in the long-term growth prospects for the industry is stronger than ever."