Brooks Macdonald snaps up introducer firm as profits jump

Wealth manager Brooks Macdonald has announced a spate of acquisitions alongside a hike in profits which have jumped 17% to £8.5m year-on-year.

The group completed acquisitions of Clarke Wilmott's Investment Management team and funds introducer Park Street London in deals valued at £114m and £4.4m respectively, with the final deal coming after  the year end. "Last year was tough but successful. We believe that market conditions will remain volatile and, given the onset of RDR, that we are entering a period of significant change in the distribution landscape for financial services," said chief executive Chris MacDonald. "We are fortunate that the group is well positioned, financially stable and with a large number of exciting ...