Brooks Macdonald

Brooks Macdonald, the AIM listed wealth management group, has reported pre-tax profits up 22% for the year ending June 2013, though warned of future pressures on margins.

Brooks Macdonald Asset Management (BMAM) has appointed Lisa Brown as an intermediary sales manager.

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.

CASH

MOVERS & SHAKERS

Brooks Macdonald's acquisition of Spearpoint helped drive a 44% rise in FUM in the second half of last year, although the firm continues to count the cost of RDR.

HIDDEN GEMS

AIM-listed wealth manager Brooks Macdonald has seen assets under management soar to £4.6bn in the last three months, boosted by the recent acquisition of Spearpoint.

Brooks Macdonald Funds (BMF) has introduced a clean share class across its fund range.

Brooks Macdonald has acquired discretionary fund manager Spearpoint, manager of the Arch Cru funds, in a deal that could reach £32m.