Brooks MacDonald Group has announced the acquisition of Lucas Fettes Financial Planning, a Norwich-based provider.
Completion is subject to regulatory approval, expected in Q1 2025.
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Lucas Fettes will be integrated into Brooks Macdonald’s Direct Wealth business and will enhance the Group’s financial planning capability. The firm also brings around £80m assets under advice, spread across 1,600 clients and approximately £300m assets under influence from more than 300 corporate clients.
Andrea Montague, CEO designate & chief financial officer of Brooks Macdonald, said: “We are delighted to announce the acquisition of Lucas Fettes. Today’s announcement aligns with our redefined strategy to reignite growth, as it will broaden and deepen our client reach. This acquisition will strengthen our financial planning capability and enhance our presence in East Anglia.
“Brooks Macdonald has had a consistently strong business relationship with Lucas Fettes since 1996, built on a great cultural fit, as well as our delivery of strong investment returns and commitment to excellent client service. I am pleased to now welcome them into the Group.”
Mark Brown, managing director of Lucas Fettes, commented: “We have worked with Brooks Macdonald now for over quarter of a century and are very pleased to be joining the Group. Having carefully considered our future we believe now is the time to become part of a larger organisation with shared values and ambition. We are confident in our shared focus on quality and personal service, along with a determination to deliver market leading client outcomes.”
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By GlobalDataIn November 2024, Brooks Macdonald announced its acquisition of CST Wealth Management, a Wales-based financial planning firm.
CST Wealth Management holds close to £170m in assets under advice and a client base of approximately 500.
In addition, CST also offers financial planning for businesses.
