Profits soar at Charles Stanley off repricing exercise

News Team, 28/05/2020

Wealth manager Charles Stanley reaped the benefits of a restructure and repricing exercise in the financial year to 31 March 2020, as profits soared.

Pre-tax profits for the year sat at £17.3 million, up 57.3 percent from 2019’s £11 million. This was despite the £3.5 million the firm spent on a major restructure throughout the year.

Revenue increased across all three divisions – investment management services, Charles Stanley direct and financial planning – and was up 11.5 percent in total to £173 million.

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