Themes 2 Good progress Growth in funds under management - - PowerPoint PPT Presentation

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Themes 2 Good progress Growth in funds under management - - PowerPoint PPT Presentation

May 03, 2023 223 likes •508 views

Themes 2 Good progress Growth in funds under management Regulatory impact and costs Continued investment in the brand Business review to identify additional opportunities Results 26 Weeks to March 2011 3 March

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  • Good progress
  • Growth in funds under management
  • Regulatory impact and costs
  • Continued investment in the brand
  • Business review to identify additional opportunities

Themes

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9.4% 6.4p 7.0p Diluted earnings per share* 3.55p 4.6p 15,224 20,925 120,946 7,947 112,999

£’000

March 2010

  • 3.55p

Dividend

  • 21.7%

3.6p Diluted earnings per share

  • 21.2%

11,996 Profit before tax 9.3% 22,869 Profit before tax* 12.5% 136,029 Total Income

  • 1.2%

7,849 Other Operating Income 13.4% 128,180 Revenue

£’000

% Change March 2011

* excluding redundancy costs, additional FSCS Levy, contract renewal payments, amortisation of client relationships.

Results – 26 Weeks to March 2011

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13.1% 6.1p 6.9p Fully diluted EPS* 14.0% 19,963 22,759 Profit before tax* 18.2% (15,129) (17,887) Profit share 15.8% 35,092 40,646 Profit before profit share*

  • 48.3%

302 156 Net finance income 15.4% (41,090) (47,429) Other operating costs 11.1% (39,181) (43,546) Salaries 14.3% 115,061 131,465 Total Income

£'000 £'000

% Change March 2010 March 2011

Investment Management Profits

* excluding redundancy costs, additional FSCS Levy, contract renewal payments and amortisation of client relationships.

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Capital Adequacy

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% Change 26 September 2010 27 March 2011 Indices 3.3% £9.2bn £9.5bn Advisory funds under management 5.4% 5,598 5,901 FTSE 100 Funds 7.8% £23.2bn £25.0bn Total managed funds 10.7% £14.0bn £15.5bn Discretionary funds under management 4.7% 2,844 2,977 FTSE APCIMS Private Investor Series Balanced Portfolio

Funds Under Management

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7.8% 10.7% 3.3% % Increase in funds since Sept 2010 25.0 15.5 9.5 Value of funds at 27 March 2011 1.1 (0.2) 0.9 0.9 (0.1) 0.7 0.2 (0.1) 0.2 Inflows Outflows Market movement 23.2 14.0 9.2 Value of funds at 26 September 2010

£ billion £ billion £ billion

Total Managed funds Discretionary funds Advisory funds

Funds Under Management Flow

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0.77% 0.88% 0.92% Return on Advisory Funds 1.17% 1.19% 1.20% Return on Discretionary Funds

(adjusted for interest)

2009 2010 2011

Return on Funds Under Management

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Split of Income

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  • Financial Services Compensation Scheme levy (FSCS)
  • Retail Distribution Review (RDR)
  • EU’s Packaged Retail Investment Products (PRIPs)
  • The new structure and the Financial Conduct Authority (FCA)

Regulatory Impact on the Business

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Disposal on track Corporate Advisory & Broking

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Developments

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Brand Investment

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An independent survey conducted by Ledbury Research

  • 5,873 interviews completed by clients
  • 83% overall satisfaction
  • 76% are likely to recommend Brewin Dolphin
  • 73% have half or more of their wealth with Brewin Dolphin
  • Clients who also see our Financial Planners, consistently

invest a higher proportion of their wealth with us

Client Survey

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  • Major review of operations and business activities
  • Systems Review – now in phase 2
  • Integrated proposition to include Financial Planning
  • Efficient solution for smaller portfolios
  • 2 – 3 years to achieve maximum benefits

Business Review

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  • Leverage scale of one of the UK’s largest independent

investment managers

  • Build on recurring revenue and discretionary management
  • Retain and attract clients through richer levels of customer

service

  • Attract and motivate talented people and to build the brand

Strategy

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Outlook

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Analysis of Funds

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Allocation of Funds Under Management

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Total Funds in Special Services - 27th March 2011

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Map

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  • 41 offices
  • Total Staff 1884
  • FSA Approved Staff 648
  • CF30s 628
  • Staff Shareholders own 23%

Key Facts

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With the help of our

  • Asset Allocation Committee
  • Strong research departments
  • Collective funds analysis service
  • Model portfolios management options for IFAs
  • Strong compliance

Approach to Investment

What makes us special is that the person who talks to the client makes the investment decisions.

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  • Basic salary
  • Profit share - partly paid in BDH shares
  • Share ownership
  • All personnel believe they can make a difference

Remuneration

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