Investment and wealth manager Rathbones Brothers has managed to increase its total funds under management and administration in the third quarter to £49.4 billion, about a 0.5 percent increase on the previous quarter. Despite this increase being only marginal to lift another of chief executive Paul Stockton’s phrases, it did beat some analysts’ forecasts.

The growth in assets came from £0.1 billion in inflows and a further £0.1 billion in positive market performance. However, the larger wealth management division Rathbone Investment Management which represents the lion’s share of the group’s assets under management saw its AUM dip by £0.1 billion. Again this was a mix of net outflows of £0.2 billion offset somewhat by positive market movements..

Other divisions including its Unit Trust Managers performed well over the quarter, gaining £0.3 billion in AUM, this was purely the result of inflows.

Arguably the most enticing part of today’s news is the strategy update.  Rathbones is aiming to invest heavily in areas such as technology to reinvigorate organic growth.

According to Paul McGinnis, analyst at Shore Capital, “Rathbones intend to build on its strong credentials in responsible investment and further digitise the way it interacts with both clients and third party financial advisers (which have been a key source of growth for other DFMs).”

However, the strategic update is going out live at 10am so details will follow after the presentation. It has been a period of change for the firm, with the CFO becoming CEO in May so it’s widely expected that the update will include more details on management change.