Brooks Macdonald Grp - Completed acquisition of LIFT-Financial Group
03/02/2025 07:00
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RNS Number : 5565V Brooks Macdonald Group PLC 03 February 2025
Brooks Macdonald Group plc
Completes acquisition of LIFT-Financial Group
Further to the announcement on 8 October 2024, Brooks Macdonald Group plc
("Brooks Macdonald", the "Group" or the "Company") is pleased to announce that
it has completed the acquisition of LIFT-Financial Group Limited and
LIFT-Invest (together "LIFT").
As at December 31 2024 this acquisition brings an additional c.£1.6bn assets
under advice (AUA) and around 1,350 clients. Brooks Macdonald's Financial
Planning business now has total AUA of c.£6.4bn(1) of which c.£2.4bn(1) is
FUM. It also has c.90 advisers and paraplanners.
Andrea Montague, Chief Executive Officer of Brooks Macdonald, commented:
"I'm delighted that we have completed the acquisition of LIFT and that Michael
Holden, one of the two founders, has taken the newly created role of Chief
Executive of Financial Planning. Mike's strong client and high performance
focus will further drive our strategy to reignite growth."
Michael Holden and Joel Adams, Founders of LIFT commented:
"We are incredibly proud of everything LIFT has achieved. We are confident the
acquisition by Brooks Macdonald is the right step for the future of the
business, our clients, and our team. Brooks Macdonald shares our values and
commitment to excellence, and we are forming the best combination for further
success."
Michael Holden commented:
"Looking ahead, I'm excited to lead the Financial Planning business. Building
a solid, Chartered business and investing in the next generation through
initiatives like the Adviser Academy has always been a passion of mine. With
Brooks Macdonald, I'm eager to build on this foundation and help drive the
Financial Planning business forward."
(1) As at 31 December 2024 including LIFT and excluding Brooks Macdonald
International.
Enquiries:
Investors
Brooks Macdonald Group plc
Andrea Montague, CEO
Katherine Jones, CFO
Alexander Holcroft, Interim Director of Investor Relations
Phone: +44 (0)7418 923 061
Email: alexander.holcroft@brooksmacdonald.com
(mailto:alexander.holcroft@brooksmacdonald.com)
Singer Capital Markets (Nominated Adviser and Joint Broker)
Charles Leigh-Pemberton / James Moat
+44 (0)20 7496 3000
Investec Bank plc (Joint Broker)
Christopher Baird / David Anderson
+44 (0)20 7597 5970
Teneo (Media Enquiries)
Misha Bayliss
+44 (0) 20 74275465
Oscar Burnett
+44 (0) 20 74275435
Email: brooksmacdonald@teneo.com (mailto:brooksmacdonald@teneo.com)
Notes to editors
About Brooks Macdonald
Brooks Macdonald Group plc is a leading provider of wealth management services
in the UK.
Proudly serving clients since 1991 and trading on AIM since 2005, Brooks
Macdonald is independent, financially strong, and aims to deliver strong and
consistent investment performance for clients to meet their financial
objectives. The company's broad and diverse product range means that clients
get solutions made just for them and allows Brooks Macdonald to support
clients throughout their entire lives as needs and circumstances change. The
company is recognised as an innovator in the industry having been amongst the
first to develop and launch key products such as Managed Portfolio Service
(MPS) and bespoke income solutions.
On 15 January, the Group announced its intention to move its listing from AIM
to the Main Market of the London Stock Exchange, which is expected to occur in
March 2025.
Realising Ambitions. Securing Futures. We are Brooks Macdonald.
Biography
Michael Holden - former co-founder and CEO, LIFT
Michael Holden, former co-founder and CEO of LIFT, brings over 30 years of
expertise and experience in financial services and relationship management.
Mike's career has been shaped by his passion for building strong, personal
relationships with clients supporting them throughout their lives.
In his former role at LIFT, he focused the teams to deliver on their promise
of outstanding service and long-term value to clients through sound advice and
open communication.
As an advocate of talent and innovation, he created and continues to champion
the LIFT-Academy, an initiative to develop the next generation of Chartered
Financial Planners, to continue high-quality service.
Forward-looking statements
This announcement may include statements, beliefs or opinions that are, or may
be deemed to be, "forward-looking statements". These forward-looking
statements may be identified by the use of forward-looking terminology,
including the terms "believes", "estimates", "plans", "projects",
"anticipates", "targets", "aims", "continues", "expects", "intends", "hopes",
"may", "will", "would", "could" or "should" or, in each case, their negative
or other variations or comparable terminology, or by discussions of strategy,
plans, objectives, goals, future events or intentions. No representation or
warranty is made that any of these statements or forecasts will come to pass
or that any forecast results will be achieved. Forward-looking statements may
and often do differ materially from actual results. Any forward-looking
statements contained in the announcement speak only as of their respective
dates, reflect Brooks Macdonald's current view with respect to future events
and are subject to risks relating to future events and other risks,
uncertainties and assumptions relating to Brooks Macdonald's business, results
of operations, financial position, liquidity, prospects, growth and
strategies.
Except as required by any applicable law or regulation, Brooks Macdonald
expressly disclaims any obligation or undertaking to release publicly any
updates or revisions to any forward-looking statements contained in this
announcement or any other forward-looking statements it may make whether as a
result of new information, future developments or otherwise.
LEI: 213800WRDF8LB8MIEX37
www.brooksmacdonald.com (http://www.brooksmacdonald.com) / @BrooksMacdonald
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