Rathbones profits surge 73% while outflows rise following IW&I integration

FUMA also increases

UK wealth and asset manager Rathbones has seen its profits before tax increase by 72.9% during the course of 2024, while outflows surged by 58.8% following and integration of Investec Wealth & Investment (IW&I) and Saunderson House into one combined business.

According to the company's results for the 12 months ended 31 December 2024 released today (26 February), pre-tax profits stood at £99.6m in 2024, up from £57.6m a year before, an increase "largely reflecting acquisition and integration costs related to the combination with IW&I, along with higher amortisation charges following the transaction", the company said.  Funds under management and administration (FUMA), meanwhile, ticked up from £105.3bn at the end of December 2023 to £109.2bn a year later, including £43bn from IW&I, a 3.7% growth.  Rathbones assets dip to £108.8bn despite i...