Brooks Macdonald passes £3bn in FUM

The wealth management group had total discretionary FUM of £3.2bn at the end of 2011, an increase of 11% on the previous quarter (ending 30 September 2011), and up 8% from the period ending 30 June. It completed its purchase of the Clarke Willmott team on 31 October 2011, bringing across £114.4m of discretionary client assets. Chris Macdonald, chief executive of Brooks Macdonald, said: "The group made good progress in the half-year across all of its activities in spite of extreme volatility in both sentiment and markets. "We continue to work hard on delivering risk adjusted returns...