Swiss wealth manager Vontobel increased its pre-tax profits by 5 percent to CHF 321 million in 2020.

In its full year results, the firm reported stable operating income of CHF 1.27 billion.

Net new money stood at CHF 14.8 billion, representing growth of 7.4 percent on the previous year. While advised client assets were up by 10 percent to CHF 248.2 billion.

Wealth management clients contributed CHF 3.8 billion of net new money, which corresponds to growth of 6.3 percent, compared with 0.1 percent in the previous year.

Operating income in wealth management was slightly down at CHF 423.6 million compar...