Charles Stanley total client funds reach £20.1bn

Charles Stanley Group’s total client funds reached a record £20.1bn in the fourth quarter of 2013, up 9 per cent from £18.48bn the previous quarter.

Charles Stanley’s interim statement shows managed funds reached a new high of £11.1bn after increasing 14 per cent from £9.7bn in the third quarter.

Total revenue increase to £36.7m, an increase of 18 per cent from £31m in the same period in the 2012.

Commission revenue and fee income rose 12.9 per cent and 21.4 per cent respectively within this time.

Within Charles Stanley, investment management services saw revenue growth of 13.6 per cent while financial services saw a revenue growth of 8.6 per cent respectively. 

Charles Stanley Direct saw a total revenue of £697,000 in the fourth quarter which was bulked up by total fees of £509,000.

This represents a marginal increase from the fourth quarter of 2012 where Charles Stanley Direct saw a total revenue of £694,000, with fees of £552,000 within this. 

A Charles Stanley statement says: “The group recorded a pleasing performance in the quarter ended 31 December 2013. Particularly pleasing was the increase in managed funds to a new high of £11.1bn.”