Advisory firm Brooks Macdonald profits up 27%

Group profit increased from £1.6m to £2.03m, while turnover leapt 34% to £16.8m over the period. Discretionary funds under management climbed 29% to £1.18bn. The firm’s fee-based advisory business, Brooks Macdonald Financial Consulting, achieved growth in its three business areas – financial planning, mortgages and employee benefits. Chairman Christopher Knight says the group is looking forward with “cautious optimism” despite the current economic downturn. “Whilst market conditions and sentiment are at best uncertain there is still strong demand for quality independent fee based advi...