At first sight Schroders’ wealth management operations experienced another good year during 2019, according to its latest full-year results.

Although pre-tax profits came in £15.1 million lower at £52.9 million, a 22 percent decrease on the previous year, this largely reflected the increased costs associated with Schroders’ decision to increase its wealth management footprint - part of wider strategy of diversifying its asset base and forging closer longer lasting relationships with clients.

Net income grew by £19.8 million, from £289.8 million to £309.6 million, a 6.8 percent increase.

New business i...