Brooks Macdonald Group
plc
Completes acquisition of LIFT-Financial
Group
Further to the announcement on 8 October 2024,
Brooks Macdonald Group plc ("Brooks Macdonald", the "Group" or the
"Company") is pleased to announce that it has completed the
acquisition of LIFT-Financial Group Limited and LIFT-Invest
(together "LIFT").
As at December 31 2024 this acquisition brings
an additional c.£1.6bn assets under advice (AUA) and around 1,350
clients. Brooks Macdonald's Financial Planning business now has
total AUA of c.£6.4bn1 of which c.£2.4bn1 is
FUM. It also has c.90 advisers and paraplanners.
Andrea
Montague, Chief Executive Officer of Brooks Macdonald,
commented:
"I'm delighted that we have completed
the acquisition of LIFT and that Michael Holden, one of the two
founders, has taken the newly created role of Chief Executive of
Financial Planning. Mike's strong client and high
performance focus will further drive our strategy to reignite
growth."
Michael Holden
and Joel Adams, Founders of LIFT commented:
"We are incredibly proud of
everything LIFT has achieved. We are confident the acquisition by
Brooks Macdonald is the right step for the future of the business,
our clients, and our team. Brooks Macdonald shares our values and
commitment to excellence, and we are forming the best combination
for further success."
Michael Holden commented:
"Looking ahead, I'm excited to lead
the Financial Planning business. Building a solid, Chartered
business and investing in the next generation through initiatives
like the Adviser Academy has always been a passion of mine. With
Brooks Macdonald, I'm eager to build on this foundation and help
drive the Financial Planning business
forward."
1 As at 31 December 2024 including LIFT and excluding Brooks
Macdonald International.
Enquiries:
Investors
Brooks
Macdonald Group plc
Andrea Montague, CEO
Katherine Jones, CFO
Alexander Holcroft, Interim Director of
Investor Relations
Phone: +44 (0)7418 923 061
Email: alexander.holcroft@brooksmacdonald.com
Singer Capital
Markets (Nominated Adviser and Joint Broker)
Charles Leigh-Pemberton / James
Moat
+44 (0)20 7496
3000
Investec Bank
plc (Joint Broker)
Christopher Baird / David
Anderson
+44 (0)20 7597 5970
Teneo (Media
Enquiries)
Misha
Bayliss
+44 (0) 20 74275465
Oscar
Burnett
+44 (0) 20 74275435
Email: brooksmacdonald@teneo.com
Notes to
editors
About Brooks
Macdonald
Brooks Macdonald Group plc is a
leading provider of wealth management services in the
UK.
Proudly
serving clients since 1991 and trading
on AIM since 2005, Brooks Macdonald is independent,
financially strong, and aims to deliver strong and consistent
investment performance for clients to meet their financial
objectives. The company's broad and diverse product range means that clients get solutions made just for
them and allows Brooks Macdonald to support clients throughout
their entire lives as needs and circumstances change. The
company is recognised as an innovator in the industry having been
amongst the first to develop and launch key products such as
Managed Portfolio Service (MPS) and bespoke income
solutions.
On 15 January, the Group announced
its intention to move its listing from AIM to the Main Market of
the London Stock Exchange, which is expected to occur in March
2025.
Realising Ambitions. Securing
Futures. We are Brooks Macdonald.
Biography
Michael Holden - former co-founder
and CEO, LIFT
Michael Holden, former co-founder and CEO of
LIFT, brings over 30 years of expertise and experience in financial
services and relationship management. Mike's career has been shaped
by his passion for building strong, personal relationships with
clients supporting them throughout their lives.
In his former role at LIFT, he
focused the teams to deliver on their promise of outstanding
service and long-term value to clients through sound advice and
open communication.
As an advocate of talent and
innovation, he created and continues to champion the
LIFT-Academy, an initiative to develop the next generation of
Chartered Financial Planners, to continue high-quality
service.
Forward-looking
statements
This announcement may include
statements, beliefs or opinions that are, or may be deemed to be,
"forward-looking statements". These forward-looking statements may
be identified by the use of forward-looking terminology, including
the terms "believes", "estimates", "plans", "projects",
"anticipates", "targets", "aims", "continues", "expects",
"intends", "hopes", "may", "will", "would", "could" or "should" or,
in each case, their negative or other variations or comparable
terminology, or by discussions of strategy, plans, objectives,
goals, future events or intentions. No representation or warranty
is made that any of these statements or forecasts will come to pass
or that any forecast results will be achieved. Forward-looking
statements may and often do differ materially from actual results.
Any forward-looking statements contained in the announcement speak
only as of their respective dates, reflect Brooks Macdonald's
current view with respect to future events and are subject to risks
relating to future events and other risks, uncertainties and
assumptions relating to Brooks Macdonald's business, results of
operations, financial position, liquidity, prospects, growth and
strategies.
Except as required by any applicable
law or regulation, Brooks Macdonald expressly disclaims any
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements contained in this
announcement or any other forward-looking statements it may make
whether as a result of new information, future developments or
otherwise.
LEI:
213800WRDF8LB8MIEX37
www.brooksmacdonald.com
/ @BrooksMacdonald
