The firm attributed to the decline in trade to a wider industry trend stemming from geopolitically-induced market volatility, drawing £17m against £22.2m in the same period in 2013.
However, total income in 2014 crept up by 1% on the previous year from £69.6m to £70.2m, driven by a 14% rise in fee-based income to £47.4m.
Brewin Dolphin’s total funds under management experienced Q4 growth of 3%, rising from £1.1bn to hit £37.9bn – a 5% jump on a year earlier.
Discretionary FUM underwent a 3% increase in the quarter to reach £24.8bn, and netted a 12% rise on the £22.2bn recorded on 29 December 2013. Net organic growth in the discretionary arm continued at a steady rate of 5% on the previous year following inflows of £300m.
However, the firm’s advisory service suffered a net flows decline of 11% in Q4, falling from £5.4m to £4.8m, constituting a 27% drop in the previous 12 months.
Brewin Dolphin chief executive David Nicol said: “Despite tough market conditions in the first quarter the group has made good progress growing overall funds under management, in particular in our discretionary service, whilst continuing to invest in the business to drive future growth.”
