Wealth Manager Brooks Macdonald has added a ‘strategic partnerships’ offering for Financial Planning firms.
The wealth manager and Financial Planner says its Brooks Macdonald Strategic Partnerships offering will help advice firms benefit from the advantages of its scale while retaining their independence.
The support offered to firms includes:
- Investment proposition design and governance
- Suitability and review process enhancement
- Operational efficiency and technology integration
- Pricing and proposition strategy
- Growth and acquisition planning
- Succession and long-term strategic planning
Brooks said that the proposition was particularly aimed at medium-sized firms seeking greater operational resilience and scale without full consolidation.
Andrea Montague, CEO at Brooks Macdonald, said: “Brooks Macdonald was founded as an advice-led business thirty-five years ago, so we understand first-hand the challenges and opportunities facing independent financial advice firms today.
“The advice market is undergoing structural change and many of these firms are looking for more than an investment provider. Through strategic partnerships we can support them to grow, adapt and compete in a complex environment.”
Brooks Macdonald reported net inflows of £50m for the quarter ended 31 December, its first quarter of positive net flows since 2023. It has since reported £58m net inflows in the quarter to 31 March.
The wealth manager has been striving to recover after being hit by net outflows in 2023 and cutting 10% of staff. It said the cuts from its 512-strong workforce were designed to ensure it was, “set up for success, organised to deliver its strategy and drive growth.”
In July Brooks Macdonald launched a new Financial Planning brand - Brooks Financial. It said the brand has been launched to recognise the growing scale of Brooks Macdonald’s Financial Planning business following the acquisitions of LIFT-Financial, Lucas Fettes and CST.
Brooks Macdonald has £20bn in funds under management and advice as at 31 March.