Brooks Macdonald's new CEO reveals growth plans

Sold property business

Natalie Kenway
clock • 4 min read

New Brooks Macdonald Group CEO Caroline Connellan has unveiled plans for the group to continue investing in technology and distribution to reflect the wealth manager's growing scale.

The final results for the period to 30 June, released this morning, said the group's total discretionary funds under management grew to £10.5bn, an increase of 25.9% from £8.3bn, which it attributed to organic growth with net new business of £951m (compared to £863m in 2016) and investment performance, which added £1.2bn to the total figure. In the first results reported under chief executive Caroline Connellan, who started her role as the CEO of Brooks Macdonald in April this year after its former boss Chris Macdonald stepped into the post of deputy chairman, revenues were up 12.7% to £...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Companies

Manchester firm declared failed by FSCS over pensions advice

Manchester firm declared failed by FSCS over pensions advice

Pension Advice Specialists, trading as Ashworth Wealth, no longer exists

Isabel Baxter
clock 26 March 2024 • 1 min read
Third Financial's 'laser-like' focus following Nucleus acquisition

Third Financial's 'laser-like' focus following Nucleus acquisition

‘Adviser platforms are more nuanced than just outsourced versus in-house’

Isabel Baxter
clock 26 March 2024 • 3 min read
Fairstone makes first advice firm buy of 2024 adding £110m in assets

Fairstone makes first advice firm buy of 2024 adding £110m in assets

Consolidator acquires Nottingham-based James Ryan Thornhill

Isabel Baxter
clock 26 March 2024 • 1 min read