A WEALTH management firm has created jobs after hailing its strong resolve in overcoming marketplace difficulties.

Brewin Dolphin, which has offices in Newcastle, says its determination, coupled with service demand, gave it room to manoeuvre through the FTSE 100’s woes at the turn of the year.

Officials says such fortitude has now allowed the company to bolster its team with more investment managers and financial planners.

They added a three-year restructure of its regional offices, which included the closure of bases in Stockton and York, has proved equally decisive.

Brewin’s Newcastle office includes investment managers and financial planners, who advise on areas including ISAs, charity fund management, pensions and inheritance tax, and David Nicol, chief executive, said the company’s changes, allied to new products and its tenacity, has put it on a firmer standing.

He said: “The group is in hiring mode.

“Having completed the rationalisation of our regional office network and established the right culture, we have begun to actively expand our resources by hiring investment managers and financial planners.

“Our regional structure allows us to take advantage of growth opportunities and increase the appeal of the group.”

Revealing its latest results, covering the six months to March 31, Mr Nicol said total funds increased 2.5 per cent to £32.8bn, while core income was marginally higher at £126.1m.

Pre-tax profits were lower at £21.5m, though Mr Nicol said the firm now has a clearer path to achieve fresh growth.

He said: “In the current market context, the first half reflects a creditable performance; we saw further growth in our core business, as well as continued progress towards achieving our long-term goals.

“The volatile conditions in the second half of the year in 2015 intensified in the first half of this financial year, with the FTSE touching multi-year lows in February.

“This, coupled with an absence of overall growth in equity markets since the peaks of April 2015, provided a challenging backdrop to growth and short-term financial performance.

“(However), the underlying ability of the business to sustain growth, despite the poor market environment, is a reminder of the sound footings on which we are building our ambitions.”

Mr Nicol added the company will formally launch two new services, for family lawyers, corporate advisors and their clients, later this year, saying they have already attracted great interest.