A marked rise in net fee income in its investment management division helped Rathbone Brothers post a 30% increase in profits in 2011.
Fee income at Rathbone Investment Management, which provides discretionary portfolio management services and a range of multi-asset funds, was £80.1m last year, up from £66.5m in 2010.
It helped the wealth management group post a profit before tax of £39.2m, an increase of 30% on the previous year's £30.1m.
Underlying profit before tax, which excludes gains on disposal of financial securities, office relocation costs and exceptional Financial Services Compensation Scheme levies, increased to £46.2m from £38.5m.
Total funds under management were £15.85bn at 31 December 2011, up 1.4% from £15.63bn at end-2010.
Meanwhile, Rathbone Unit Trust Management saw positive net monthly sales throughout 2011 helping its funds under management to increase by 5% to £1.09bn at 31 December 2011. Profit before tax in the division was £0.8m last year, up from £0.5m the year before.
Andy Pomfret, chief executive of Rathbone Brothers, said: "Rathbones is cautiously optimistic about the prospects for 2012 with the UK equity market ending 2011 on a more positive note.
"There is no doubt that the uncertainties over Europe persist but these are balanced by indications that the world economy continues to grow and some developed economies are showing small signs of improvement, particularly the USA.
"We are seeing signs of underlying cost inflation but we will continue to invest in and grow our business. We continue to be well positioned to take advantage of opportunities to welcome more investment managers and clients to Rathbones."
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