The company’s results for the year ended 30th September 2019 have revealed that total funds were £45.0bn, an increase of 5.1%, from £42.8bn in 2018.

Discretionary funds of £40.1bn, including acquired funds of £0.3bn, (2018: £37.6bn) reflect continued organic growth and positive investment performance.

The report also highlighted discretionary net funds inflows of £1.4bn (2018: £2.3bn) representing an annualised growth rate of 3.7% (2018: 6.8%).

Profit before tax and adjusted1 items of £75.0m, 3.2% lower than 2018 (£77.5m) in-line with expectations.

The results also revealed:

• Statutory profit before tax of £62.6m, 8.6% lower than 2018 (£68.5m).
• Total income for the period increased by 3.1% to £339.1m (2018: £329.0m).
• Total costs of £265.7m excluding adjusted1 items (2018: £252.3m), 5.3% increase due to planned spending on growth initiatives and infrastructure projects.

Adjusted1 earnings per share:

• Diluted earnings per share2 of 20.5p (2018: 21.7p).
• Basic earnings per share of 21.2p (2018: 22.5p).

Statutory earnings per share:

• Diluted earnings per share of 16.6p (2018: 18.9p).
• Basic earnings per share of 17.0p (2018: 19.5p).
• Full year dividend 16.4p (2018: 16.4p), final dividend of 12.0p per share (2018: 12.0p per share).

Marc Wilkinson, regional director for Scotland at Brewin Dolphin, said: “It has been a resilient year for Brewin Dolphin in Scotland. Our clients are increasingly looking for financial advice that helps them manage, protect, and plan their wealth in these uncertain times.

“Our Scottish offices’ growth has largely been organic, winning new business directly, offering more services to our existing clients, and working with our partners in the independent financial advisor (IFA) sector.

“We continue to build our financial planning capabilities and our range of clients – in particular, we’re working with more entrepreneurs to help them diversify their assets and navigate corporate exits.

“Our professional services offering has developed significantly in the past year and we’re approaching this sector in a new way, which has already yielded results. We are also gaining traction in the family law market, as we continue to broaden our range of services to individuals and families.

“Looking ahead, our pipeline of new business remains strong and, while there may be more uncertainty ahead, we remain confident for the year to come.”.