The firm, set to be acquired soon by Raymond James, saw a 19.5% increase in fee income in the second quarter.
Revenue in the first half increased by 12.1% to £91.9m (H1 2020: £82m).
Total funds under management and administration (FUMA) rose marginally in the second quarter by 1.1% to £27.4bn (Q1: £27.1bn).
FuMA (Funds Under Management or Advice) was up by 7% in comparison to the financial year end position of £25.6bn at 31 March 2021.
Average FuMA increased by 22.2% over the first half of the financial year to £27bn (H1 2020: £22.1bn), due to buoyant stock markets.
The wealth manager also shared an update on its acquisition by Raymond James UK Wealth Management.
The wealth management firms agreed in July that Raymond James will acquire the entire issued share capital of Charles Stanley for 515 pence per share, 43% above the value of the shares at the time of the deal arrangement, in a deal worth £278.9m.
The deal will see around 200 wealth managers join Raymond James bringing approximately £27.1bn in assets under management. This will bring Raymond James’ UK client assets under management to over £40bn.
Charles Stanley said the acquisition remains subject to satisfaction of a waiver of some outstanding conditions, including the FCA having notified Raymond James in writing of its approval of the change of control of Charles Stanley & Co and Myddleton Croft as a result of the acquisition and the court sanctioning the acquisition at a sanction hearing, which is expected to be held in the fourth quarter of 2021.
From Financial Planning Jobs. For more click on any job.
This is a selection of jobs from our new Financial Planning Jobs site - for more job vacancies click on any job or the link below.