Rathbones saw profits before tax rise 120 per cent to £112mn in the first half of 2024, its interim results show.
The wealth manager said this was down to beating the strategic and financial targets of its merger with Investec in September 2023.
Rathbones' group CEO, Paul Stockon, said: "We have achieved synergy realisation ahead of target, with run-rate synergies of £20mn delivered to the end of June 2024, well ahead of our year one post-combination objective of £15mn.
"These synergies have delivered a benefit to underlying operating profit for the six-month period of £8mn and we remain confident in the guidance set out at the time of the combination."
He added the firm's office consolidation programme has been "progressing at pace", including moving its head office from Finsbury Circus to Gresham Street earlier this month.
Stockton said: "Work to develop our combined service proposition is also advancing well, with several propositions now aligned across the group."
The interim results said total costs of the acquisition are expected to be £177mn, which will be spread over the next two to three years and partly funded by £45mn of capital left in Investec Wealth and Investment.
It said it has so far written to 45 per cent of Investec clients about moving their investments to Rathbones, with the remaining clients set to be contacted in the coming weeks.
Clients are expected to migrate over in the first quarter of January 2025.
At the end of June total group assets under management stood at £108.9bn, which is an increase of 3 per cent over the half year.
Analysts from Peel Hunt called the interim results "encouraging".
Total operating income for the group was £447mn, with Rathbones' standalone income being 12 per cent higher than the previous year.
tara.o'connor@ft.com
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