Declining commission weighs on Charles Stanley revenue in Q4

Charles Stanley saw revenues fall in Q4 as the company moves from a commission to a fee-based model.

In the three months to 31 December, revenue fell from £36.7m to £36.3m, while total client funds stood at £20.5bn, a 2% rise year on year. Over the nine months since 31 March 2014, revenues increased from £106.7m to £109.2m. The group said all divisions were ahead compared to the previous year, with the exception of Charles Stanley Securities which has experienced a lower level of corporate finance activity during the current year. In Q4, a total of £24.4m of revenues came from fees, while just under £12m came from commission. Meanwhile, the company said it is conducting a review o...