Brooks Macdonald to buy IFA business Lucas Fettes

Lucas Fettes has about £890m assets under advice (AUA), with 1,600 personal clients. It has a further £300m assets under influence from more than 300 corporate and employee benefits clients. Lucas Fettes has seen "significant" AUA growth in the last five years, Brooks Macdonald stated in a press release. It is expected to be integrated into Brooks Macdonald's direct wealth business. "Having carefully considered our future we believe now is the time to become part of a larger organisation with shared values and ambition," said Lucas Fettes managing director Mark Brown. "We are confi...