Smith & Williamson has reported a 6.3 percent increase in adjusted operating profit from £20.5 million in 2017 to £21.8 million in its interim results for the first six months of the 2018/19 financial year.

The firm’s operating income was £134.8 million in the six months to 31 October 2018, an increase of 6.3 percent over the same period in the last year.

During this period, the firm’s funds under management and advice remained at £20.1 billion.

Operating income for the firm’s financial services segment, which covers its financial planning, banking and investment management activites, increased 4...