Wealth management group Brooks Macdonald continues to build on its record of delivering strong growth by boosting profits, funds under management and rewarding shareholders with a hefty dividend hike.
Total discretionary funds under management grew by 19 per cent to £3.52bn in the financial year to June which was impressive given the 2 per cent fall in the APCIMS Balanced index over the same period. This reflected winning more business through professional intermediaries such as independent financial advisers, and greater demand from self-invested pensions plans (Sipps). The group also attracted more clients for its managed portfolio service designed to cater for clients with smaller investment portfolios. And property assets under administration managed by Braemar Estates incresaed 15 per cent to £865m.