This compares to £9.5m of Financial Planning income in the first quarter of the prior year.
Around 64% of direct private client inflows took the wealth manager’s integrated wealth management and advice services, according to a quarterly trading update.
The quarter is the second period of strong growth for the wealth manager’s Financial Planning division.
The wealth manager reported a 25.7% rise in Financial Planning income in a buoyant set of full year results released in November. Financial Planning income jumped by £8.5m to £41.6m for the full year (FY 2020: £33.1m).
The wealth manager has a strategic ambition of becoming “the leading advice-focused digitally enabled wealth manager”, according to its CEO Robin Beer.
Total group income was £104.4m (Q1 2021: £95.9m), an increase of 8.9%, which Brewin Dolphin said was driven by higher funds and strong market performance.
Discretionary net flows were £0.7bn, an annualised growth of 5.6%.
Total discretionary gross inflows were £1.0bn, from both direct and indirect businesses.
Around 65% of discretionary inflows were from new clients.
Direct discretionary inflows were £0.5bn, of which 20% were through the wealth manager’s upmarket wealth proposition 1762.
Total funds increased by 3.7% to £59.0bn (FY 2021: £56.9bn).
Discretionary funds were up 4.4% to £52.0bn (FY 2021: £49.8bn).
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