Brewin Dolphin Holdings (BRW)

Demergers are back in fashion with five companies in the FTSE 350 index each preparing to split into two separately-listed entities. Another one has just completed its split and there are rumours that a further FTSE 350 stock could spin off one of its businesses. Unbundled companies often flourish because they have the freedom to be more entrepreneurial and not be part of a larger company where ...

Wealth manager Brewin Dolphin (BRW) is forecast by analysts to increase pre-tax profit by nearly 12% this year to £78.1m and by a further 13% in 2019 to £88.2m. The company is on a roll, judging by its latest half year results which showed net new inflows in discretionary funds under management growing at an annualised rate of 7.7%. The £1bn wealth manager is busy consolidating a highly ...

Wednesday, 17 May Wealth manager Brewin Dolphin (BRW) will release its interim results on 17 May, giving the market the opportunity to see if this £950m cap company can match the pace of its more nimble rivals. Investors should look at assets under management and profit to assess the health of the business. Brewin’s £28m acquisition of fellow wealth manager Duncan Lawrie was approved in ...

Prime Minister Theresa May has fired the starting gun on Brexit by triggering Article 50, a milestone of historic significance and an act that will lead to years of wrangling and uncertainty. Mark Martin, manager of the Neptune UK Mid Cap fund and a proven picker of successful FTSE 250 companies, believes the UK is approaching the Brexit period from a position of relative strength. ‘There ...

Wealth manager Brewin Dolphin (BRW) is paying £26m for an investment management division owned by conglomerate Camellia (CAM:AIM) as it looks to put a £175m cash pile to work. The Duncan Lawrie Asset Management (DLAM) unit is part of Camellia’s private banking business and has £735m in assets under management alongside 1,000 client relationships. Analysts say the deal highlights ...

The search for income has been at the top of many investors’ agenda in 2015. We all love to sit back and scoop up the cash from dividends. Sadly, the risks associated with dividends are becoming elevated amid corporate cash flow pressures. Anyone who depends on dividend income to pay the bills or maintain a decent lifestyle should take a close look at equity income funds. For a small fee you ...

Dividend cuts this year have hit income investors hard but there are still a number of attractive shares with decent yields, according to analysts at N+1 Singer. Markets may be inefficiently pricing some dividend scenarios, the N+1 Singer team argue, providing investors with a way to profit from a ‘dividend surprise’ rally when results are announced. A dividend surprise can take many ...

Swoop on Swallowfield A recent drop in the oil price should provide a tailwind for toiletries-to-cosmetics maker Swallowfield (SWL:AIM). An easing of the cost of oil-derived inputs should assist the positive recent margin trend at the micro cap, returned to profitability last year under CEO Chris How's turnaround strategy. (JC) 'Unbundling' overblown The costs of ...

Can investors make money out of companies that provide them with investment services? They certainly have in recent times. The question now is should you buy into the rally in the hope of further gains, take money off the table or simply maintain your current exposure to the sector? We think the rally has further to run but favour a selective approach and our key buys are Aberdeen Asset Management ...

One way to screen for value investment opportunities is to look at companies whose share prices are trading considerably below lofty highs enjoyed before stock markets around the world crashed in 2008. Most bombed-out stocks will be trading on a low level for a reason but careful research can help you sift out a few golden nuggets. Our in-depth analysis has unearthed six interesting turnaround ...

Ashcourt Rowan (ARP:AIM) 191.0p Loss to date: 1.0% The disposal by Ashcourt Rowan (ARP:AIM) of the Self-invested Personal Pension (SIPP) and Small Self-administered Scheme (SSAS) businesses acquired with UK Wealth Management (UKWM) demonstrate the group is well on top of its strategic priority to build a UK discretionary wealth management business. The purchase of UKWM was completed in April as ...

The UK discretionary wealth management space is dominated by the big players such as Rathbone Brothers (RAT) and Brewin Dolphin (BRW) but that does not mean there is not the opportunity for a small upstart to make a mark. We believe Ashcourt Rowan (ARP:AIM) has the potential to make an impact and for margins to greatly improve as it achieves scale via a buy-and-build strategy driving high ...

Wealth managers and asset managers look well placed ahead of a potential increase in UK base rates, presuming any rise in borrowing costs does not choke off economic recovery (see Agenda, Shares , 12 Jun). The former group should enjoy the additional benefit of net interest income earned on client deposits. We see potential for net interest income gains to act as a useful kicker at Brewin ...

Investors should position for a continued recovery in UK equities even if the prospect of rising base rates is likely to dampen economic growth. While the Bank of England (BoE) may be concerned about a runaway housing market, the historic precedent suggests a slow-but-steady tightening cycle is unlikely to be accompanied by a property bust, consumer retrenchment, double-dip recession and crunching ...

Rising employment, falling inflation, a relatively buoyant housing market and relaxed rules on pension withdrawals are among the factors driving a sharp recovery in UK consumer confidence back to levels last seen in 2007. Yet in tandem, the deep and prolonged recession has led the country’s consumer to become bargain-driven, a trend which is unlikely to reverse any time soon. Mindful of this ...

UK drugs giant GlaxoSmithKline (GSK) falls 1.5% to £16.08 as the Serious Fraud Office launches a criminal investigation into several bribery allegations made against the group’s international business. Glasgow engineering firm Weir Group (WEIR) falls 1.6% to £25.63 as it abandons a merger with Finnish rival Metso (MEO1V:HSX) after an improved offer was rejected. Weir raised its offer to ...

Brewin bounce All eyes will be on fund flows when private client stockbroker Brewin Dolphin (BRW) publishes its interims next week (28 May). The market will want reassurance that net inflows into the firm’s core discretionary service for the second quarter between January and March met its stated 5% per annum growth target. (SK)     IFG on a roll Independent ...

Irish charmer Paddy Power (PAP) falls 4.1% to 56.59p as long-standing chief executive Patrick Kennedy announces his plan to step down by next April. David Jennings, analyst at stockbroker Davy, comments: 'Given the group’s very impressive track record under his tenure, this is likely to lead to a period of uncertainty for investors with questions in relation to succession and the group’s ...

£19.64 Gain to date: 28.6% As some of the fizz comes out of the markets and the latest round of big acquisitions reaches completion now may be a good time to lock in gains at Rathbone Brothers (RAT), up 28.6% since we flagged the stock four months ago at £15.27 (see Plays, Shares 19 Dec ’13). This month’s (1 Apr) £57.4 million worth of acquisitions include the purchase of Jupiter Fund ...

Amid resurgent markets the good days are well and truly back for our City scribblers, research houses, corporate financiers, market makers and brokers, particularly the Aim specialists. But the news is not necessarily good for the whole of the financial services sector so I am picking carefully and putting in place a hedge. I have decided to go long the Aim advisors, holding those with hybrid ...