Unsurprisingly, the rate at which Brooks Macdonald (BRK) gained new business slowed last year as macroeconomic uncertainty encouraged circumspection among retail investors. Net new business of £409m was equivalent to 3.3 per cent of opening assets, behind the double-digit organic growth historically recorded by the wealth manager. Nevertheless, pre-tax profits were ahead of consensus market expectations.
IC TIP:
Hold
at
1960p