Brooks Macdonald has reported a 16% increase in interim pre-tax profit as assets under management near the £6bn mark.
The AIM-listed wealth manager said pre-tax profit rose from £4.26m to £4.93m for the six months to 31 December, with AUM rising from £4.62bn to £5.68bn over the same period.
Announcing an 8% increase in its interim dividend to 7p, group CEO Chris Macdonald (pictured) said it had made "solid progress" over the period.
Brooks said the number of firms it works with has more than doubled over the past two years to over 620.
Chairman Christopher Knight, meanwhile, flagged the "huge amount" of change that continues to impact on the industry.
"This change is focused on regulation and the related increase in costs, the continued desire for clients to look at risk-rated returns, changes in the distribution landscape for investment management, auto enrolment, margin compression and the speed of technological change particularly around client reporting."
Three years at Wells Fargo
Effective from 9 December 2019
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