British wealth manager Charles Stanley has reported its funds under management (FUM) and administration totalled £22.8bn as at 31 December 2018, a fall of 9% compared to £25bn three months earlier.

The fall was due to weak equity markets, the firm said in its third quarter trading update.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The FTSE 100 index and MSCI WMA Private Investor Balanced index dipped 10.4% and 7.9%, respectively, over the period.

All types of services, Charles Stanley said, were adversely affected due to challenging market conditions.

Inflows were said to be stable, with the higher margin discretionary service growing by £0.2bn. Execution-only funds were flat, excluding market movements.

Revenues increased 0.3% year-on-year, while fee income rose 1.9%. The rise was powered by “strong growth” in the Financial Planning and Charles Stanley Direct units.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

On the flip side, Investment Management Services and Asset Management units reported “small declines”.

Charles Stanley CEO Paul Abberley said: “Despite difficult market conditions in Q3, which have had a significant negative impact on headline funds under management and administration, I am pleased to report that we continued to win new discretionary mandates and that financial planning and Charles Stanley Direct delivered strong increases in revenues.

“We will continue to invest in scaling these divisions as part of our holistic wealth management proposition.”