Brooks Macdonald News

28.03 / 11:09

markets LSE International Brooks Macdonald joins main LSE market

In an announcement today (28 March), Brooks Macdonald unveiled that its ordinary shares will additionally, be admitted to the equity shares category of the regulator's official list. Brooks Macdonald said it does not intend to raise any funds or offer any new ordinary shares in connection with promotion and that the listing will be effected via an introduction of the company's existing ordinary shares. Brooks Macdonald completes £51m sale of international wing to Canaccord Genuity Wealth Upon admission, the wealth manager's issued ordinary share capital will be 16,382,539. There a...

27.02 / 15:49

markets UPS show Brooks Macdonald MPS inflows up 13% as firm sees rise in profits

The group, which bought advice businesses Lift Financial, CST Wealth Management and Lucas Fettes during the period, said it had delivered a «solid set of results» which showed that funds under management (FUM) were up 0.7% to £15.7bn. It said gross inflows were £1.1bn and included a 13% MPS increase with net inflows of £288m and total FUM at 31 December reaching almost £5.8bn for the MPS arm. However, gross outflows were «elevated» during the period at £1.4bn «particularly in BPS, driven by the prevailing backdrop of market volatility and uncertainty leading up to the Budget affecting...

24.02 / 10:09

UPS MET performer exclusive International Brooks Macdonald completes £51m sale of international wing to Canaccord Genuity Wealth

The deal was first announced back in September 2024, with BMI confirming today (24 February) that the assets had been passed over. Brooks Macdonald appoints CFO as its sells international wing to Canaccord Genuity Wealth The purchase has been split into two instalments consisting of an initial £28m payment, while another round of up to £22.85m will be paid in cash over the coming two years post-completion, if certain performance criteria are met. In the RNS notice, Brooks said the sale proceeds will enable it to «focus exclusively on the core UK business and will enhance its abilit...

03.02 / 12:41

markets CEO Strategy Brooks Macdonald completes LIFT acquisition

LIFT founder Michael Holden is expected to lead the financial planning business in the role of chief executive of financial planning, Brooks Macdonald confirmed today (3 February). Brooks Macdonald eyes move to London main market from AIM «I am delighted that we have completed the acquisition of LIFT and that Michael Holden, one of the two founders, has taken the newly created role of chief executive of financial planning,» said Brooks Macdonald CEO Andrea Montague. «Mike's strong client and high-performance focus will further drive our strategy to reignite growth.» The deal, firs...

15.01 / 09:49

markets Trade Updates Profiles Brooks Macdonald eyes move to London main market from AIM

In its trading update for the last quarter of 2024, the wealth manager said the move would bolster its corporate profile and «extend the opportunity to own its ordinary shares to a broader group of investors». It has been listed on AIM since 2005. Brooks Macdonald suffers £130m outflow as Budget uncertainty hits investor confidence As part of the plans, Brooks will not raise any additional funds nor offer any new shares in relation to the admission to the main market or the publication of the prospectus. If greenlit, the move to the main market will happen no earlier than 4 Marc...

23.10 / 11:11

Research Liontrust and Premier Miton most likely to be impacted by potential removal of AIM relief

Senior equity research analyst Jens Ehrenberg and equity research analyst Rahim Karim said the removal of business relief associated with the ownership of certain AIM stocks rumoured to be under consideration in the upcoming Autumn Budget would have the most impact for Liontrust and Premier Miton. The analysts noted Brooks Macdonald and Rathbones are the two companies most exposed to inheritance tax funds by assets under management, at 1.2% and 0.9%, respectively. However, because their exposure is minimal, Ehrenberg and Karim argued they are unlikely to be directly impacted from suc...

16.10 / 08:25

UPS Platform Trade performer Updates International Brooks Macdonald suffers £130m outflow as Budget uncertainty hits investor confidence

In a trading update today (16 October) for the quarter ending 30 September, the asset manager said gross inflows into the business were down 6% over the period, while gross outflows fell by 5.1%. Net outflows were offset by positive investment performance of £228m in the quarter, resulting in a rise in closing funds under management to £17.9bn, up from £17.8bn in the three months to 30 June. Brooks Macdonald appoints CFO as its sells international wing to Canaccord Genuity Wealth The firm's MPS Platform, including its B2B offering for financial advisers BM Investment Solutions, s...

08.10 / 08:07

UPS Target Brooks Macdonald buys LIFT for up to £45m in financial planning push

Brooks said it had bought 100% of the issued share capital of both LIFT Financial Group and LIFT Invest for an initial consideration of £30m payable in cash on completion and a total consideration of up to £45m, subject to financial targets. The deal is due to complete by the end of March 2025. Brooks Macdonald suffers £600m net outflows amid 'challenging' economic backdrop Greater Manchester-based LIFT also has offices in London and Edinburgh. At the end of last year, its assets under advice (AuA) were about £1.6bn of which about £600m were also funds under management. Brooks ...

26.09 / 14:27

Research cover reports 7IM poaches from abrdn and Mercer for investment management team hires

Qadri and Leitao will report into Uwe Ketelsen, head of portfolio management at 7IM, and will be responsible for enhancing and deepening the firm's fund selection and portfolio management capabilities. Prior to joining 7IM, Qadri worked for three years at abrdn as part of its multi-asset team, most recently as a senior investment analyst since December last year. 7IM partners with Brooks Macdonald to offer MPS ranges At abrdn, he covered investment manager research and portfolio construction across various asset classes. Leitao joins 7IM from Mercer, where he worked as a senior ...

12.09 / 11:20

markets CEO trends reports Brooks Macdonald suffers £600m net outflows amid 'challenging' economic backdrop

According to its annual report for 2024 published today (12 September), the firm noted market volatility and higher interest rates among the challenges faced over the year to 30 June 2024, which pushed clients to withdraw funds to repay debt or to hold higher cash balances. Andrew Shepherd, outgoing CEO of Brooks Macdonald, noted that net outflows came largely from the firm's bespoke and funds products, while their model portfolio service raked in £388m, «reflecting the trend for MPS as a solution of choice for accumulation». Nevertheless, the firm cashed in £1.8bn in investment perfo...

12.09 / 08:58

CEO performer International Brooks Macdonald appoints CFO as its sells international wing to Canaccord Genuity Wealth

Jones will take on the role effective 1 November, joining from Phoenix Group Holdings where she was group finance director. Andrea Montague, who is taking over as CEO from Andrew Shepherd next month, said the company was «redefining our strategy» in a bid to increase growth, with a «renewed focus» on client services and «broadening and deepening our client reach». Brooks Macdonald names Andrea Montague as next CEO She said Jones' appointment was a key part of this pivot, stating «this appointment will strengthen my leadership team so we can continue to drive performance and execute...

05.09 / 09:52

Provident Platform Brooks Macdonald to move over £146m Defensive Capital fund to RM Funds

Subject to regulatory and fundholder approval, RM Funds will take over investment management and distribution of the SVS Brooks Macdonald Defensive Capital fund, which will be renamed the SVS RM Defensive Capital fund. O'Connor, who has managed the fund since 2019 after serving as deputy fund manager from 2016, will be joining RM Funds along with his team. Brooks Macdonald outflows slow to £200m amid strong platform MPS growth Launched in 2010, DCF is an all-weather return fund aiming to provide long-term growth with lower volatility from a portfolio of diversified assets that do...

24.06 / 08:21

UPS CEO Brooks Macdonald names Andrea Montague as next CEO

Montague, the current chief financial officer, will take up the top leadership position on 1 October, subject to regulatory approval. She has been appointed CEO designate from 1 July. She joined the group in August last year and has extensive experience in the UK long-term savings and asset management sector. Brooks Macdonald loses UK distribution head to Ascot Lloyd Prior to Brooks Macdonald Montague was most recently group chief risk officer at Aviva, and group chief financial controller before that. She also held senior leadership positions at Royal London Group and Standard Lif...

17.04 / 14:37

markets COST UPS Trade Updates Market gains offset Brooks Macdonald's £300m quarterly outflows as FUM ticks up

In a trading update today (17 April), the asset manager said its FUM rose by 2% to £17.9bn in the quarter, as it benefited from market gains worth £642m. Gross inflows during the period were £533m, but gross outflows reached £828m, leading to an overall £294m net outflow. The Bespoke Portfolio Service business took the biggest hit with £205m net outflows, which the firm attributed to clients withdrawing funds to repay debt or hold higher cash balances in the current interest rate environment. Brooks Macdonald and IG Group scale back staff to cut costs Brooks Macdonald's UK inv...

21.03 / 15:45

Parke 2020 reports Investec W&I private client chief resurfaces as Brooks Macdonald head of wealth

In the newly created role, he will be responsible for the firm's advice-led wealth management offering for private clients. Reporting to chief commercial officer Robin Eggar, he will be based in the firm's London office. Brooks Macdonald enjoys 8% revenue boost from acquisitions Charalambous worked at Investec W&I between October 2020 and October 2023, most recently as co-head of private clients and global high net worth. Before that, he was managing director at Julius Baer and has held senior roles at RBC Wealth Management and JP Morgan. Former Brooks Macdonald CIO Edward Park joi...

12.02 / 13:47

People moves Evelyn Partners Evelyn Partners hires investment manager from Quilter Cheviot in regional push

Prior to joining Evelyn Partners, Daniel Lewis (pictured) worked as an investment manager at Quilter Cheviot for over 22 years, where he worked in wealth management for private clients.

25.01 / 19:43

BlackRock People moves Morningstar Wealth taps Brooks Macdonald for wealth solutions lead

Chris Bishun (pictured) spent over three years at Brooks Macdonald, having joined the firm in June 2020.

17.01 / 12:29

companies outflows Inflows Q4 Positive performance offsets £100m Brooks Macdonald outflows as FUM ticks up 4.3%

Andrew Shepherd (pictured), CEO of Brooks Macdonald

17.01 / 12:29

People moves fixed income Vanguard Rathbones AM adds assistant portfolio manager to fixed income team

Christie Goncalves (pictured), joins the firm after eight years at Vanguard.

12.01 / 13:57

People moves Brooks Macdonald head of investment solutions departs

Bishun joined the company in June 2020 to head the investment solutions division, which was established around the same time.

05.01 / 11:25

People moves park Brooks Macdonald CIO Edward Park set to depart after 15 years

Brooks Macdonald CIO Edward Park (pictured) is leaving the firm.

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