Investing.com -- Rathbones Group (LON:RAT) on Wednesday reported broadly in-line first-half 2025 results on Thursday, with underlying profit before tax of £107.7 million, down 4% YoY but showing improving momentum in client flows.

The wealth management firm’s shares rose 1.07% following the announcement of a £50 million share buyback program, the first in the company’s history.

The wealth manager reported operating income of £449.1 million, flat compared to the same period last year and slightly above analyst expectations.

Funds under management and administration (FUMA) stood at £109.0 billion as of June 30, 2025, compared to £109.2 billion at the end of 2024. Net outflows improved significantly in the second quarter to £0.2 billion, down from £0.8 billion in the first quarter.

"The first half of 2025 marked a pivotal phase for Rathbones, as we successfully completed the planned client and asset migration of  Investec  (LON:INVP) Wealth & Investment," said Paul Stockton, Group Chief Executive Officer.

"This milestone increased run-rate synergies to £47.2 million as at 30 June 2025 and set the stage for the remaining synergies to be delivered in the second half of the year."

The company announced a 3.3% increase in its interim dividend to 31.0 pence per share, in line with analyst expectations. More significantly, Rathbones unveiled plans for its first-ever share buyback program of up to £50 million, subject to regulatory approval, representing approximately 2.5% of its market capitalization.

Rathbones maintained its guidance for full-year 2025 results to be in line with market forecasts, despite a slight decline in underlying operating margin to 24.0% from 25.1% in the first half of 2024.

The company expects margin improvement in the second half as integration progresses and the Investec Wealth & Investment platform is decommissioned.

The wealth manager also announced its entry into the Model Portfolio Service market, the first in a planned series of new investment solutions across its various channels.

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