We are still growing despite tough times, reports Brewin Dolphin
Despite a significant slump in profits and a decline in assets under management, Brewin Dolphin, the specialist investment company is expanding its Marlborough branch.
It moved earlier this year from its offices in the heart of Marlborough, where the lease was coming to an end, to a brand new site on the Marlborough business park offering extended space.
“We have grown from 11 staff in 1994 to 38 staff today,” divisional director Myles Palmer (pictured) told Marlborough News Online. “Marlborough looks after £600 million in funds and this is also growing, albeit slower under the present economic climate.”
“We are dedicated to provide a truly independent and tailored service to our clients with our very loyal team of investment managers, most of whom have been with us for a long time.”
“Our financial planning side has grown considerably and this offers our clients advice on most areas of tax with strong focus on pensions and bonds whist making the investments tax efficient where possible.”
“As an office, we support the local town through sponsorship of the Marlborough Jazz Festival for the last eight years, the Marlborough Litfest and other events and local charities.”
Brewin Dolphin nevertheless reported that its annual profit dropped 27 per cent to £21.9 million, its assets under management declining four per cent, the equivalent of £1 billion during its fiscal second half ended in September.
Mr Palmer added: “We are happy with the group results, with continued growth in funds under management, even though profits down in these difficult markets.”
Like others, the company is now contemplating the outcome of David Cameron’s use of the UK veto in the vital Brussels talks.
“The implications of this depend on so many issues most of which are still unknown so for the moment,” explained Mr Palmer. “We need to wait and see but it could herald a new era of political uncertainty in our relationship and trading with Europe as a whole.”