Charles Stanley pre-tax profits up 57% despite assets decline

Restructure costs at £3.5m to date

James Baxter-Derrington
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Charles Stanley CEO Paul Abberley
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Charles Stanley CEO Paul Abberley

Charles Stanley posted growth in profit before tax of 57% in the year to 31 March 2020, despite the funds under management and administration (FUMA) falling 16% to £20.2bn as a result of the coronavirus pandemic’s impact on markets.

Revenue also grew across all three divisions of the business, up 11.5% on the previous year, although the financial planning arm saw another net loss, with its £8.7m revenue unable to outweigh costs of...

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