Funds under direction at wrap platform Transact grew 3.5% over the quarter ending 30 September 2020, an 8.7% increase for the financial year despite a “difficult and unpredictable” operating environment.

Wealth management and Financial Planning group Charles Stanley has reported a 6.8% reduction in group revenue for the second quarter of its financial year but the Financial Planning division grew in the first half of its financial year.

DFM, wealth manager and Chartered Financial Planner Brooks Macdonald has seen investment performance offset by net outflows, leaving funds under management down 1.9%, in its first quarter of their financial year.

Hargreaves Lansdown has reported a surge in new clients signing up to its cash savings service following government-backed NS&I slashing its rates in September.