Brooks Macdonald posts record underlying profits and £800m inflows

FUM down by 4.8%

Brooks Macdonald has posted record underlying profits of £34.5m for the 12 months to June, as the group stayed in positive flows territory despite a £800m drop in funds under management.

The wealth management firm attracted £800m of net inflows in the 12 months to the end of June, up 4.8% for the full year, according to its annual results.   Just the fourth quarter alone brought in £300m in new cash, reaching an annualised rate of 6.7%, which extended the firm's positive net flows streak for a fifth successive quarter. The firm's UK investment management saw positive net flows throughout the year, reaching an annualised rate of 8.6% in the final quarter. The "standout performance" was from BM Investment Solutions, the group's business-to-business offering, CEO Andrew ...