Funds under management and revenue rose at Charles Stanley in the second quarter of its financial year, as the firm prepares for its takeover by Raymond James.

Total funds under management and administration (FUMA) rose marginally by 1.1 percent to £27.4 billion against the prior quarter at £27.1 billion.

Average FUMA increased by 22.2 percent over the first half of the financial year to £27.0 billion (H1 2020: £22.1 billion), reflecting much more buoyant stock markets.

Revenue over the second quarter increased by 15.3 percent to £46.0 million (Q2 2020: £39.9 million), with increases in fee income of 19....