Charles Stanley Revenues Rose Sharply In Q4, AuM Also Gained

Tom Burroughes

24 January 2014

, the London-listed wealth management and brokerage firm, said revenues in the final three months of 2013 rose by 18 per cent year-on-year to £36.7 million ($61 million), helped by a 12.9 per cent rise in commissions and a 21.4 per cent gain in fees.

Fee income represented 62.4 per cent of the overall revenue which the firm said is in line with its desire to widen the range of its revenue sources, a statement from Charles Stanley today said.

At the end of December, total client funds reached a new record of £20.1 billion, an increase of 13.4 per cent over the nine months since 31 March 2013. By comparison, the FTSE 100 Index of blue-chip UK stocks and the WMA Balanced Portfolio Index rose by 5.3 per cent and 2.8 per cent respectively, showing that Charles Stanley outperformed market measures.

“We have recorded a good performance across all of our operating divisions. Revenue growth across investment management services and financial services was 13.6 per cent and 8.6 per cent respectively,” it said.

As previously reported, Charles Stanley bought Evercore PAN Asset Capital Management last November, taking on a business with around £580 million of client money.