Brooks Macdonald has introduced that it has accomplished its acquisition of LIFT Monetary Group and LIFT Make investments.
As at December 31 2024, this deal brings round £1.6bn of property underneath recommendation (AUA) and round 1,350 purchasers.
Moreover, Brooks Macdonald’s Monetary Planning enterprise now has whole AUA of roughly £6.4bn of which £2.4bn is FUM. It additionally has near 90 advisers and paraplanners.
Andrea Montague, chief govt of Brooks Macdonald, stated: “I am delighted that we have now accomplished the acquisition of LIFT and that Michael Holden, one of many two founders, has taken the newly created position of Chief Government of Monetary Planning. Mike’s robust consumer and excessive efficiency focus will additional drive our technique to reignite development.”
Michael Holden and Joel Adams, founders of LIFT commented: “We’re extremely happy with all the pieces LIFT has achieved. We’re assured the acquisition by Brooks Macdonald is the appropriate step for the way forward for the enterprise, our purchasers, and our crew. Brooks Macdonald shares our values and dedication to excellence, and we’re forming the most effective mixture for additional success.”
Michael Holden added: “Trying forward, I am excited to guide the Monetary Planning enterprise. Constructing a stable, Chartered enterprise and investing within the subsequent era via initiatives just like the Adviser Academy has at all times been a ardour of mine. With Brooks Macdonald, I am keen to construct on this basis and assist drive the Monetary Planning enterprise ahead.”
In different enterprise, Brooks MacDonald Group has introduced the acquisition of Lucas Fettes Monetary Planning, a Norwich-based supplier.
Completion is topic to regulatory approval, anticipated in Q1 2025.
Lucas Fettes will probably be built-in into Brooks Macdonald’s Direct Wealth enterprise and can improve the Group’s monetary planning functionality. The agency additionally brings round £80m property underneath recommendation, unfold throughout 1,600 purchasers and roughly £300m property underneath affect from greater than 300 company purchasers.
“Brooks Macdonald completes LIFT acquisition” was initially created and printed by Non-public Banker Worldwide, a GlobalData owned model.
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