M and A
Deals Of The Day: The Latest In Wealth Management M&A – Brooks Macdonald, LIFT
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The latest mergers, acquisitions and other corporate actions in the wealth management sector.
Brooks Macdonald
Brooks
Macdonald, a UK wealth manager, has completed its purchase of
LIFT-Financial Group Limited and LIFT-Invest, both otherwise
known as LIFT.
Originally announced in early October 2024, the deal, based on
data for end-December last year, brings an added £1.6 billion of
assets under advice and around 1,350 clients to Brooks
Macdonald.
The firm’s financial planning business now has total AuA of about
£6.4 billion (*), of which around £2.4 billion (*) is funds under
management with about 90 advisors and para-planners. (*As at 31
December 2024 including LIFT and excluding Brooks Macdonald
International.)
Michael Holden, one of the two founders of LIFT, has taken the
newly-created role of financial planning CEO.
Last September Brooks Macdonald bought Norwich-based wealth
manager Lucas Fettes Financial Planning. In November, it acquired
CST Wealth Management, a chartered financial planning firm based
in Wales.
