Brooks Macdonald Group has acquired advice business Lift for up to £45m, subject to regulatory approval, as it continues its expansion in financial planning.
Brooks said it had bought 100% of the issued share capital of both Lift Financial Group and Lift Invest for an initial consideration of £30m payable in cash on completion and a total consideration of up to £45m, subject to financial targets. The deal is due to complete by the end of March 2025. Greater Manchester-based Lift also has offices in London and Edinburgh. At the end of last year, its assets under advice (AuA) were about £1.6bn of which about £600m were also funds under management. Brooks said Lift had a "high-quality base of about 1,400 clients is made up of private indi...
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