Andrea Montague, CEO of Brooks Macdonald and Michel Holden, CEO of Brooks Financial
Wealth manager Brooks Macdonald has launched a new Financial Planning brand known as 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.
The company said Brooks Financial brings together all former financial planning companies under one unified brand, reflecting the scale and ambition of Brooks Macdonald to delivering high quality, independent Financial Planning advice to clients across the UK.
Andrea Montague, chief executive of Brooks Macdonald said: “The launch of a new brand marks the enlarged scale of our Financial Planning business. With only 9% of the UK population receiving regulated financial advice, the opportunity is significant for Brooks Financial to be the trusted provider of choice for financial advice and a key contributor to the growth of Brooks Macdonald.”
Mike Holden, chief executive of Brooks Financial said: “We are excited to offer Brooks Financial as our new brand bringing together all of the Financial Planning operations. The look is new but our commitment to serve our clients well and deliver trusted whole of market independent advice remains the same.”
The new Brooks Financial logo
Brooks Macdonald 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 is, “set up for success, organised to deliver its strategy and drive growth.”
Andrea Montague took over as CEO on 1 October 2024, since which time it has made several acquisitions.
Earlier this year it completed the acquisition of Chartered Financial Planners LIFT-Financial Group Limited and LIFT-Invest for £45m, Welsh Chartered Financial Planning firm CST Wealth Management for an undisclosed sum and £890m AUA Norwich-based Lucas Fettes Financial Planning.
It completed the sale of Brooks Macdonald Asset Management (International) to Canaccord Genuity Wealth in February. The firm also chose to sell its international operations following a strategic review.
Canaccord paid an initial consideration of £28m, with a further contingent sum of up to £22.85m payable in cash two years post-completion, subject to performance criteria.
Brooks Macdonald completed the process of moving its share listing from AIM to the London Stock Exchange main market in March.
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