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Rathbones Group (RAT) investor relations material
Rathbones Group Q3 2026 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Strategic progress continued, with Wealth Management generating net inflows for a second consecutive quarter and client portfolios outperforming ARC benchmarks over Q3, YTD, one-year and three-year periods.
Growth initiatives included on-demand Financial Planning and regulatory authorisation to serve clients in Ireland and the EU.
Financial highlights
Operating income was £243.6m in Q3, up 3.0% YoY; 9M income was £731.1m, up 6.7% YoY.
FUMA rose 7.2% YoY to £121.1bn at 30 September 2026, supported by positive market and investment performance; Wealth Management held £112.9bn.
Outlook and guidance
Q4 underlying operating margin is expected to meet the 28.7% target, subject to previously stated conditions on FUMA growth, inflation and interest rates.
Restrictions on existing EDD clients are expected to begin lifting progressively in Q4; reviews covering ~two thirds of affected FUMA are expected by year-end, with the remainder by early Q2 2027.
Salesforce implementation is planned for Q4 2026; a Q4 trading update is scheduled for 14 January 2027.
- FUMA rose to £120.7bn with profit and income growth, supported by synergy and digital innovation.RAT
Investor presentation - FUMA up 10.7% YoY, profit before tax up 14.4%, and interim dividend increased 3.2%.RAT
H1 2026 - Operating income up 9.4% year-over-year, but FUMA fell to £113.6 billion on net outflows.RAT
Q1 2026 TU - Synergy-driven profit growth and margin expansion set the stage for further gains in 2026.RAT
Investor presentation - FUMA up 5.9% to GBP 115.6bn, margin targeted at 30% in Q4 2026, dividend up 6.5%.RAT
H2 2025 - FUMA rose 2.3% to £115.6bn, with 1.9% annualised net growth and improved segment outflows.RAT
H2 2025 TU - FUMA at £109.0bn, profits resilient, and a £50m buyback announced post-integration.RAT
H1 2025 - Underlying profit more than doubled as FUMA reached £108.9bn and integration synergies accelerated.RAT
H1 2024 - Profit and margin growth accelerate as integration synergies and inflows drive performance.RAT
H2 2024
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