COLWMA was established to recognise those wealth management companies displaying high levels of service and quality in the industry.

Mr Nicol, who will retire from the post in June this year, has over 30 years experience in the financial services industry. He began his career as a chartered accountant with Ernst & Young before working at KPMG’s Hong Kong division for two years. He then joined Morgan Stanley, where he worked for 26 years in a number of operations and finance roles.

In March 2012, Mr Nicol joined Brewin Dolphin’s board as a non-executive director before being appointed to the role of chief executive in 2013.

Brewin Dolphin also won the Best Discretionary Wealth Management Company of the Year and Best Initiatives in Diversity awards at the ceremony on Wednesday, making the night a big success for the firm.

Mr Nicol said: “It was an honour to be presented with the Lifetime Achievement award. I have been fortunate over the years to work with some amazing people at some terrific organisations.

“At Brewin Dolphin, we put our clients at the heart of everything that we do, nurturing them throughout their financial journey to ensure they have the help and support they need in order to achieve their financial goals for the future.

“I am proud to have spent the last seven years at Brewin Dolphin and of what the company has achieved in that time. It is with a sense of pride and contentment that I will be handing over the baton to Robin Beer in June of this year.”