Ahead of its AGM the firm announced a quarterly update in which it said its discretionary funds under management were up to £3.75bn at the end of September from £3.52bn at the end of June.
This figure included Brooks Macdonald Funds, but excluded assets managed by its subsidiary Braemar Estates and its new investment management administration service.
The firm said in comparison the Association of Private Client Investment Managers and Stockbrokers balanced index rose by just 2.45% in the quarter.
Board changes
In addition it announced Jonathan Gumpel and Nicholas Lawes would be stepping down from the board at today’s AGM.
Gumpel was a founding director of Brooks Macdonald Group in 1991 and is one of the investment directors responsible for overseeing investment management strategy and asset allocation for Brooks Macdonald Asset Management.
Meanwhile, Lawes joined Brooks Macdonald in 2003 and was appointed managing director of its financial consulting arm in 2004.
Brooks Macdonald said the group would continue to serve on the group executive management committee and maintain their roles in Brooks Macdonald Funds and Brooks Macdonald Financial Consulting respectively.
The changes have been made to “achieve a balance in the composition of the board” and make it “more appropriate to the increased size and complexity of the group”.
Chris Knight, chairman of Brooks Macdonald, said: “Last year was tough but successful for Brooks Macdonald as we continued to grow funds under management and profits. The group is well positioned for RDR, financially stable and has a number of exciting growth opportunities.”
