Brewin Dolphin has increased Financial Planning income and funds, a trading update for the three months ended 30 June has revealed.

The firm’s income related to Financial Planning was boosted 22% from £5.9m in Q3 2018 to £7.2m.

Total funds increased by 4% from £42.4bn in the first half of the year to £44.1bn now.

Other highlights included:

• Discretionary funds increased by 4.3% to £39.1bn (H1 2019: £37.5bn) driven by good inflows and investment performance.

• Discretionary net flows, including transfers, were £0.3bn in line with the prior quarter, representing an annualised growth rate of 3.2%, with positive net new flows across both the direct discretionary and intermediaries' channels.

• MPS net flows were £0.2bn, an annualised growth rate of 25.%.

• Total income was £87.3m (Q3 2018: £84.2m), an increase of 3.7%.

• Total discretionary income increased by 4.0% to £76.2m (Q3 2018: £73.3m) due to higher fee income.

• The acquisitions of Investec Capital and Investments (Ireland) Limited and the assets and staff of Epoch Wealth Management LLP “are on track to complete as planned”.

David Nicol, chief executive, said: "Our total funds grew by 4% during the quarter to £44.1bn.

“We are pleased with the overall business performance, particularly the resilience of our discretionary net inflows of £0.3bn in the quarter in challenging economic and market conditions.

“In this context, we are confident in our business model, strategy and long-term growth prospects, which are underpinned by our focused investment in the UK and Ireland, combined with continued operational discipline.”