RBC Wealth Management (Jersey) has reached an agreement to acquire Brewin Dolphin.

RBC will pay approximately £1.6 billion for the entire share capital of Brewin Dolphin, valuing the UK wealth manager at 2.8 percent of its £55 billion assets under management as at 28 February 2022.

In its most recent full year results, statutory pre-tax profits increased to £72.5 million at the end of September from £62.1 million a year earlier.

Adjusted pre-tax profits were...