Financial Performance and Flows
Rathbones reported total operating income of £243.6 million for the third quarter, a 3.0% increase year on year, with nine-month income reaching £731.1 million, up 6.7%. Funds under management and administration rose 7.2% year on year to £121.1 billion as of 30 September 2026, of which £112.9 billion is held within the Wealth Management business. Wealth Management recorded net inflows of £24 million for the quarter, marking its second consecutive quarter of net inflows.
Strategic Initiatives
Group Chief Executive Jonathan Sorrell noted that Wealth Management client portfolios outperformed ARC 1 benchmarks over the quarter and year to date. The firm has launched an on-demand Financial Planning service and received a MiFID licence from the Central Bank of Ireland to service clients in Ireland and the EU. Additionally, the group launched its first brand campaign, 'Invest well. Live well.', in September to support long-term growth.
Regulatory Programmes and Vision Update
The group’s regulatory programme remains on schedule, with plans to begin lifting restrictions on existing Enhanced Due Diligence clients in the fourth quarter. The estimated cost for this programme through to mid-2028 remains £60 million. Separately, the subsidiary Vision Independent Financial Planning Limited has received a section 166 requirement notice from the FCA.
Outlook
Rathbones expects to implement Salesforce in the fourth quarter of 2026 to integrate client lifecycle management.