The increase comes in the face of a “demanding” six months, according to the firm, which saw net outflows for the period sit at £0.9bn.

Costs incurred by the firm, which has offices in Glasgow and Edinburgh, relating to a Financial Conduct Authority (FCA) review were £19m.

The half-year report also advised that the next six months will be impacted by the skilled person review announced last month.

Group chief executive Jonathan Sorrell, said: “The first half of 2026 has been demanding, but it has also demonstrated what Rathbones is capable of.

“Since our announcement on June 16, our regulatory programme to address the recommendations from the FCA skilled person review has remained a key priority.

“We are approaching this work with rigour, urgency and transparency as we address the findings and deliver the agreed programme of work.

“Six weeks on, we have made good initial progress, client reaction has been supportive and resilient, and our focus remains firmly on our long-term ambition to become the best wealth manager in the UK, by far.”