Brooks Macdonald warns of margin squeeze in 2014


Brooks Macdonald has reported 45% growth in discretionary funds under management for the year to June, but warned the costs of investing in the business will drag on margins in 2014.

In a trading update covering the full year to 30 June, the wealth manager reported discretionary funds climbed to £5.11bn, from £3.52bn on 30 June 2012. This is an increase of 45% over the year, or 25.6% excluding the acquisition of Spearpoint, which had AUM of £329m at the end of the year. Discretionary FUM taken on as part of the Spearpoint acquisition totalled £686m (£601m in portfolios and £85m in funds). At year end this totalled £650m. Advisory funds under management (formerly managed by Spearpoint) totalled £348m, down from £357m at the end of December 2012. Brooks Macdonal...

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
 Be the first to hear about our events and awards programmes.



Already a Professional Adviser member?


More on RDR