Brooks Macdonald’s profits boost as discretionary assets rise

Brooks Macdonald saw a 19% growth in discretionary FUM, and a 49% rise in pre-tax profits for the second half of 2016; benefiting from renewed focus on services for HNW clients and changes to the pension landscape.

Brooks Macdonald's profits boost as discretionary assets rise

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“In my final set of results as chief executive, I’m delighted to be reporting further strategic progress across the group and double digit increases in both funds under management and profits,” said Macdonald.  

“We continue to see encouraging levels of organic growth across all our divisions despite volatile client sentiment in light of the macro environment. We are therefore on track to meet our expectations for the full year.

 “The last 25 years have been an incredible journey, from setting up the business, to listing on AIM, and growing FUM to over £9bn. It has been fantastic to lead a business defined by a strong culture and talented people, and I look forward to continuing to be a part of it in my new role.”