Net new discretionary business was £241m, while investment losses of £56m left total FUM growth at £185m.
Asset in Brooks Macdonald’s property business Braemar Estates edged up to £1.132bn from £1.127bn at the end of 2015.
Chief executive Chris Macdonald said: “After good progress in the first half, we have had a satisfactory third quarter, growing discretionary funds under management to over £8 billion, for the first time in our history.”
“Net organic growth remained strong at over 3% for the quarter although our underweight positions in Resources and UK Fixed Income caused client portfolios to lag the benchmark after a sustained period of outperformance,” he added.
Brooks Macdonald now has twelve offices across the UK and the Channel Islands including London, Edinburgh, Guernsey, Hale, Hampshire, Jersey, Leamington Spa, Manchester, Taunton, Tunbridge Wells and York.
