Sparks commentary - Brooks Macdonald

Financials

Sparks - Brooks Macdonald

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Brooks Macdonald (LSE: BRK) – Fourth consecutive quarter of positive net inflows
Published by Liam O’Byrne

Brooks Macdonald reported net inflows of £54m in Q127, its fourth consecutive quarter of positive net flows and a marked improvement year-on-year (Q126: £49m net outflows). Platform MPS remained the principal growth driver, attracting £172m of net inflows, equivalent to an annualised net flow rate of 8.5%. Other services continued to experience net outflows, although Bespoke Portfolio Service (BPS) net outflows were around two-thirds lower year-on-year at £53m (Q126: £157m), reflecting both higher gross inflows and lower gross outflows. Funds under management and advice grew to £21.8bn (Q426: £21.7bn).

The update follows the 8 October announcement of Lucy Tilley’s appointment as CFO, succeeding Katherine Jones. Tilley brings relevant wealth management and financial services experience, having previously served as group CFO of Stonehage Fleming and CFO of Mortgage Advice Bureau.

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