Brooks Macdonald profits up 78%
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Brooks Macdonald Group has reported annual profits of £5.68m, a year-on-year increase of 78 per cent from £3.47m.
As of the twelve months to 30 June 2010, the IFA and discretionary fund manager reported annual turnover at £35.1m, up 61 per cent from £21.8m on the last year.
Discretionary funds under management totalled £2.19bn, an increase of 57 per cent for the year.
Brooks Macdonald chief executive Chris Macdonald says the growth in the business has been organic after the acquisition of Lawrence House in September 2009 and of Braemar Group in June this year. He also attributes the growth to the strategic alliances the firm has with other IFAs and introducers.
He says: “We are well placed for the rest of the current calendar year and beyond. Alongside strong financial performance the group has continued to invest in infrastructure and employees to ensure that we continue to deliver high levels of service and performance to our clients.”
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