Brooks Macdonald has announced that it has completed its acquisition of LIFT Financial Group and LIFT Invest.
As at December 31 2024, this deal brings around £1.6bn of assets under advice (AUA) and around 1,350 clients.
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Furthermore, Brooks Macdonald’s Financial Planning business now has total AUA of approximately £6.4bn of which £2.4bn is FUM. It also has close to 90 advisers and paraplanners.
Andrea Montague, chief executive of Brooks Macdonald, said: “I’m delighted that we have completed the acquisition of LIFT and that Michael Holden, one of the two founders, has taken the newly created role of Chief Executive of Financial Planning. Mike’s strong client and high performance focus will further drive our strategy to reignite growth.”
Michael Holden and Joel Adams, founders of LIFT commented: “We are incredibly proud of everything LIFT has achieved. We are confident the acquisition by Brooks Macdonald is the right step for the future of the business, our clients, and our team. Brooks Macdonald shares our values and commitment to excellence, and we are forming the best combination for further success.”
Michael Holden added: “Looking ahead, I’m excited to lead the Financial Planning business. Building a solid, Chartered business and investing in the next generation through initiatives like the Adviser Academy has always been a passion of mine. With Brooks Macdonald, I’m eager to build on this foundation and help drive the Financial Planning business forward.”
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By GlobalDataIn other business, 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.
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.
