Brewin Dolphin eyes adviser hires in planning push

Discretionary fund manager Brewin Dolphin has said it is committed to financial advice after setting up a financial planning academy and hiring a raft of advisers last year.

Financial planning income increased £17.5m to £20.8m in the year to the end of September, results released this morning show.

Brewin revealed it had made a total of 26 new hires ranging from apprentices to paraplanners and financial planners over the year, and says it has positioned its Financial Planning Academy, with an initial cohort of 16 aspiring individuals, as a “key investment” for the firm.

It also lauded the launched on its investment advice service for clients with simpler needs, Wealth Pilot.

However, it has also said that its advice services have benefit the firm through new fund flows.

The results read: “During the year we have continued to increase the proportion of new direct discretionary private client funds we attract. This is a result of offering as broad as possible a range of financial advice to meet client needs, including our integrated investment management and financial planning services. This demonstrates our ‘advice-led’ strategy working in practice.”