Collins Stewart Wealth Management, part of the London-listed Collins Stewart group, reported today that its assets increased 12 per cent to £7.6 billion (around $12.2 billion) at 31 October compared with the level at the end of June.

“This increase represents both market movement and an increase in organic net inflows from a combination of our core discretionary portfolio management proposition and some of our more recently launched services, such as the corporate executive and employee trading desk and the bespoke cash management service,” Neil Darke, head of wealth management, said in a statement.

He added that the integration of two recent acquisitions, Corazon Capital and Andersen Charnley, was also “proceeding according to plan”.

The wealth management business intends to grow through a mix of organic growth and acquisitions, aiming to reach £10 billion in assets under management by the end of 2012.

For the group as a whole, it logged total revenues of £75 million (2009: £58 million) for the four months to 31 October 2010, which were 29 per cent ahead of the equivalent period last year.