A fee freeze has seen Rathbones secure £6m less in revenue from advisory services this year while its integration of financial planning firm Saunderson House continues.
In interim results published today (26 July) the wealth manager confirmed the £150m deal for Saunderson House - announced more than two years ago - was "progressing well". Rathbones confirmed around £1bn of funds under management and administration (FUMA) had been migrated to its propositions to date, with Saunderson House now operating as a restricted adviser. The migration is expected to be fully completed by the end of next year, at which point it expects advice revenues "will return to more normal levels" with investment fees "closely linked" to the value of FUMA managed. "Our ...
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