Announcing its six-monthly results, as at 31 December, 2011, its profits rose by 33%, from £3.1m to £4.1m.
Brooks Macdonald is most definitely in a growth phase, with the introduction of Brooks Macdonald Funds Ltd in July, to offer investors unitised access to the wider group’s fund of funds range.
On top of this, the increase in funds under management was helped by the acquisition of £114m of discretionary assets from Clarke Willmott, a deal completed in October.
Chris Macdonald, the company’s chief executive, commented: “We also continue to invest heavily in our growth strategies with the recruitment of experienced fund managers and trainees, systems and web development, expansion of both financial consulting and our estates business and promotion of our brand.”
Chairman Christopher Knight added: “A vital element of our organic growth strategy is our continuing investment in our people and promotion of our strong culture. Total staff numbers grew from 247 to 273 in the period, including an increase in investment managers from 43 to 50 as well as the recruitment of additional trainees. This provides the capacity for further growth in funds under management.”