'Demand for advisory managers to decline sharply' - Charles Stanley CEO

In its results for the second half of 2019, Charles Stanley said it had seen a shift towards its discretionary service, where funds under management and administration (FuMA) grew 7.3% to £13.2bn, representing 53% of total FuMA. Meanwhile, the "lower margin" advisory managed and advisory dealing services were down 5.6% and flat, respectively. Execution-only increased by 4.8% with Charles Stanley Direct up 12.4%. While Charles Stanley's chief financial officer Ben Money-Coutts said the firm would "continue to support" the advisory managed and advisory dealing services, he anticipated t...