RCS - Brooks Macdonald Grp - Acquisition of CST Wealth Management
05/11/2024 09:00
For best results when printing this announcement, please click on link below: https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241105:nRSE9852Ka&default-theme=true RNS Number : 9852K Brooks Macdonald Group PLC 05 November 2024 Press release Brooks Macdonald announces the acquisition of CST Wealth Management to continue growth in financial planning LONDON, CARDIFF, 5 November 2024 - Brooks Macdonald, a leading wealth management firm, today announces the acquisition of CST Wealth Management, the Chartered financial planning firm based in Wales. CST Wealth Management's assets under advice (AuA) are c. £170 million and have a high-quality base of c.500 clients. In addition to financial planning for individuals, CST offers financial planning for businesses. The acquisition adds to Brooks Macdonald's growing offering in Wales, with the CST team well known to the firm. CST represents a strategic and cultural fit to Brooks Macdonald, aligned with the Group's strategy to expand client reach and accelerate growth in financial planning. It follows the recent acquisitions of LIFT-Financial and Lucas Fettes Financial Planning. Andrea Montague, Chief Executive of Brooks Macdonald, said: "CST Wealth Management is well known to our Cardiff team for their excellent client service. We are delighted to welcome them to Brooks Macdonald as we increase our offering in Wales and grow our presence in financial planning, aligned with our strategy to reignite growth." Gwyn Williams, Director of CST Wealth Management, said: "We are pleased to be joining Brooks Macdonald, which has a great reputation and shares many of the values that have driven our success to date. We look forward to becoming part of the BM team and to the benefits it will bring to our clients." - Ends - Enquiries to: Katherine Bell, FTI Consulting Katherine.bell@fticonsulting.com 07976 870961 About Brooks Macdonald Brooks Macdonald is one of the UK's leading wealth management firms, recognised for investment performance and client service. The company offers leading multi asset investment services to intermediaries and high-quality financial planning advice to private clients, benefitting from a strong local presence across the UK. Brooks Macdonald Group plc was founded in 1991, began trading on AIM in 2005, and had discretionary FUM of £17.9 billion as of 30 September 2024. This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com (mailto:rns@lseg.com) or visit www.rns.com (http://www.rns.com/) . RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy) . END NRAGIBDBSUGDGSU