Brooks Macdonald
Brooks Macdonald is a UK wealth management group providing discretionary investment management, financial planning and fund management services.
Last updated August 31, 2026
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Overview
Brooks Macdonald is a British wealth management group headquartered in London and operating through a network of offices across the United Kingdom. Its core activities are discretionary investment management, financial planning and fund management for private clients, high-net-worth individuals, pension funds, trusts and institutions. The business operates primarily through advice-led and relationship-based services, combining portfolio management with broader financial planning rather than positioning itself as a mass-market retail investment platform. The company was established in 1991 as Brooks Macdonald, Gayer & Co by Chris Macdonald, Jonathan Gumpel, Richard Spencer and Martin Mullany. It expanded rapidly in its early years, reporting funds under management of £250 million by 1993. Brooks Macdonald Group plc was incorporated in 2002, and the company joined the London Stock Exchange's Alternative Investment Market in 2005. Its initial growth was supported by the development of discretionary portfolio management, expansion into regional offices and acquisitions of specialist investment and financial-planning businesses. During the 2000s, the group passed £1 billion in funds under management and opened an office in Manchester. It subsequently broadened its geographic reach with a Scottish branch and developed a platform of associated and acquired businesses. In 2009 it acquired fund manager Lawrence House, followed in 2010 by the purchase of property firm Braemar Group. In 2011 it acquired the investment arm of Clarke Willmott and launched a separate funds business. The acquisition of Spearpoint in 2012 strengthened its discretionary management presence in the Channel Islands, while the 2014 acquisitions of DPZ Capital and Levitas Investment Management Services helped take funds under management above £6 billion. The group continued to grow through a combination of organic expansion and acquisitions. It opened its first Welsh office in 2017 and acquired Cornelian Asset Managers in 2019, adding a Scottish investment-management capability. In 2020, it purchased Lloyds Bank International's offshore management and funds business. More recent acquisitions have focused on independent financial advice and regional wealth-management capabilities, including Integrity Wealth, Adroit Financial Planning, Lucas Fettes Financial Planning, LIFT-Financial Group and CST Wealth Management. Leadership has changed several times as the company developed from a founder-led investment manager into a larger listed group. Chris Macdonald led the listed business for many years before Caroline Connellan became chief executive in 2017. Andrew Shepherd succeeded Connellan in 2021 and announced his retirement in 2024. Andrea Montague, previously chief financial officer, became chief executive on 1 October 2024. Maarten Slendebroek became chairman in 2023, and the investment leadership structure also changed during 2024 and 2025. The group has also reshaped its international operations. Brooks Macdonald International was reviewed in 2024 and subsequently sold to Canaccord Genuity Wealth Management Limited, with completion reported in February 2025. In parallel, Brooks Macdonald continued to expand its UK advice and wealth-management footprint. In January 2025 it announced plans to move from AIM to the London Stock Exchange's Main Market, and it was admitted to the FTSE Main Market on 28 February 2025. Brooks Macdonald's present positioning is that of a specialist, UK-focused wealth manager serving clients whose needs extend beyond individual investment products. Its proposition combines investment portfolios, tax-aware and retirement-oriented planning, adviser relationships and institutional or fund-management capabilities. The reference material reports funds under management of £20.1 billion as of January 2026.
History
Brooks Macdonald began in 1991 as Brooks Macdonald, Gayer & Co, founded by Chris Macdonald, Jonathan Gumpel, Richard Spencer and Martin Mullany. The founders established the business as an investment-management firm serving private clients and other investors. By 1993, funds under management had reached £250 million, indicating substantial early demand for its discretionary-management model. Brooks Macdonald Group plc was incorporated in 2002, creating the corporate structure through which the expanding business operated. The company entered the public markets in 2005, when its shares began trading on the London Stock Exchange's Alternative Investment Market. Chris Macdonald led the listed business as chief executive. During the following years, the group expanded both organically and through acquisitions. It exceeded £1 billion in funds under management in 2007 and opened a Manchester office, adding to its London base. In 2008, Macdonald stepped back from the day-to-day managing-director role while continuing as chief executive; Nick Holmes and Andrew Shepherd became joint managing directors. The acquisition programme began in earnest in 2009 with the purchase of Lawrence House, a UK fund manager. In 2010, Brooks Macdonald acquired Braemar Group, exceeded £2 billion in funds under management and paid its first dividend. The group expanded its professional and discretionary-management reach in 2011 by acquiring the investment arm of Clarke Willmott, adding approximately £120 million of discretionary client assets. That year it also launched a funds business with approximately £100 million in assets at launch. Funds under management passed £3 billion in 2012, when the company acquired Spearpoint, a Channel Islands discretionary fund-management provider. Further acquisitions in 2014 included DPZ Capital and Levitas Investment Management Services, taking group funds under management above £6 billion. Andrew Shepherd was promoted to deputy chief executive in 2015. In 2017, after approximately 25 years as chief executive, Chris Macdonald stepped down and Caroline Connellan became his successor. The company also opened its first office in Wales, continuing its strategy of regional expansion. In 2019, Shepherd became chief executive of Brooks Macdonald International, and the group acquired Scotland-based Cornelian Asset Managers. The Cornelian transaction increased group funds under management by roughly 10 percent. The group acquired Lloyds Bank International's offshore management and funds business in 2020. In 2021, Andrew Shepherd became group chief executive after Caroline Connellan left the company. Brooks Macdonald then pursued additional growth in UK financial advice and regional wealth management. In 2022 it acquired Warwickshire-based Integrity Wealth and announced the purchase of Manchester-based Adroit Financial Planning, which added a further £350 million in assets under management. The company also introduced a £1,000 pay increase for employees earning £50,000 or less as a response to the cost-of-living crisis. Governance changed again in 2023, when Maarten Slendebroek became chairman and non-executive director following Richard Price's departure. Andrea Montague joined the executive leadership as chief financial officer. The group supported Family Business United in 2023 through a partnership intended to assist the financial planning and investment-management needs of 250 UK companies. In 2024, Brooks Macdonald placed its international division under review. Andrew Shepherd announced his retirement, and Andrea Montague was named chief executive designate before formally taking the role on 1 October 2024. Richard Larner and Michael Toolan were appointed co-chief investment officers, succeeding Edward Park. The company also continued its acquisition strategy, announcing the purchase of Lucas Fettes Financial Planning in Norwich, LIFT-Financial Group in Altrincham and CST Wealth Management in Wales. Lucas Fettes completed on 2 December 2024, while LIFT-Financial completed in February 2025; CST Wealth Management completed in November 2024. The international review resulted in the announced sale of Brooks Macdonald International to Canaccord Genuity Wealth Management Limited in September 2024, with completion in February 2025. In January 2025, Brooks Macdonald announced its intention to transfer from AIM to the London Stock Exchange's Main Market. The transfer took place on 28 February 2025. Will Hobbs was appointed chief investment officer on 25 March 2025. The reference material describes the group as having £20.1 billion in funds under management as of January 2026.
- 2025
Transfer to the Main Market
[1]The company moved from AIM to the London Stock Exchange's Main Market on 28 February.
- 2024
Leadership transition and international review
[1]Andrea Montague became chief executive, while the international division was reviewed and later sold.
- 2023
New chairman appointed
[1]Maarten Slendebroek became chairman and non-executive director.
- 2020
Offshore business acquisition
[1]Brooks Macdonald acquired Lloyds Bank International's offshore management and funds business.
- 2019
Cornelian Asset Managers acquired
[1]The acquisition expanded the group's Scottish investment-management operations.
- 2017
Founder-led chief executive period ends
[1]Chris Macdonald stepped down as chief executive and Caroline Connellan succeeded him; the company opened its first Welsh office.
- 2014
Funds under management exceed £6 billion
[1]Acquisitions of DPZ Capital and Levitas helped take funds under management above £6 billion.
- 2012
Funds under management exceed £3 billion
[1]The group passed £3 billion and acquired Spearpoint in the Channel Islands.
- 2010
Funds under management exceed £2 billion
[1]The group crossed £2 billion in funds under management, acquired Braemar Group and paid its first dividend.
- 2009
First major acquisition
[1]Brooks Macdonald purchased fund manager Lawrence House and opened its first branch in Scotland.
Products and positioning
A specialist UK wealth manager focused on discretionary investment management, long-term financial planning and relationship-led advice for private, high-net-worth and institutional clients.
Investment management · 1991
Discretionary investment management
Brooks Macdonald's core service is discretionary portfolio management, in which investment professionals manage client portfolios within an agreed mandate. The service is designed for private and high-net-worth clients, trusts, charities, pension funds and other institutions. Portfolios can be aligned with investment objectives, risk tolerance, time horizon and wider financial-planning needs.
Wealth planning
Financial planning
The group provides financial-planning services intended to connect investment decisions with longer-term personal or family objectives. Areas may include retirement planning, pensions, wealth structuring and cash-flow considerations. The capability has been expanded through acquisitions of regional independent financial-advice businesses such as Integrity Wealth, Adroit Financial Planning, Lucas Fettes Financial Planning, LIFT-Financial Group and CST Wealth Management.
Fund management · 2011
Funds business
Brooks Macdonald operates a funds-management business alongside its discretionary wealth-management activities. The business was unveiled in 2011 with approximately £100 million in assets under management at launch, providing an investment-fund capability within the broader group.
International wealth management
International wealth management
Brooks Macdonald International provided offshore and international investment-management and funds services, including capabilities developed through the acquisition of Spearpoint and Lloyds Bank International's offshore business. The division was sold to Canaccord Genuity Wealth Management Limited, with completion reported in February 2025.
Marketing campaigns
- 2023Family Business United partnership
United Kingdom
Brooks Macdonald partnered with UK charity Family Business United to support the financial planning and investment-management needs of approximately 250 companies.
Outcome. The partnership was presented as a way to extend financial-planning and investment expertise to family-owned businesses.
Brand decisions
2025
Transfer from AIM to the Main MarketStrategyBackground
After trading on AIM since 2005, the company announced an intention to move to the London Stock Exchange's Main Market.
Action taken
Brooks Macdonald announced the planned transfer in January 2025 and was admitted to the FTSE Main Market on 28 February 2025.
Aftermath
The move placed the company on the exchange's Main Market and marked a change in its public-market status.
2024
Review and sale of Brooks Macdonald InternationalStrategyBackground
The group reviewed its international division as part of a reassessment of its operating structure and strategic priorities.
Action taken
It announced the sale of Brooks Macdonald International to Canaccord Genuity Wealth Management Limited in September 2024; the transaction completed in February 2025.
Aftermath
The transaction reduced the group's international operations while Brooks Macdonald continued developing its UK wealth-management and financial-advice businesses.
2022
Cost-of-living pay increaseOtherBackground
The company responded to rising household costs and higher utility-price caps affecting employees.
Action taken
It announced a £1,000 pay increase for staff earning £50,000 or less per year.
Aftermath
The measure provided targeted pay support for lower-paid employees during the cost-of-living crisis.
Annual pay increase for eligible employees. £1,000 (September 2022)
Recent events
- 2025
Brooks Macdonald announces move from AIM to the Main Market[1]
Other
The company announced its intention to transfer its London listing from AIM to the FTSE Main Market.
- 2025
Brooks Macdonald joins the FTSE Main Market[1]
Other
The company was admitted to the London Stock Exchange's FTSE Main Market on 28 February 2025.
- 2025
Brooks Macdonald completes sale of international division[1]
M&A
The sale of Brooks Macdonald International to Canaccord Genuity Wealth Management Limited was completed.
- 2024
Brooks Macdonald reviews its international division[1]
Other
The company's international division was placed under strategic review before being sold to Canaccord Genuity Wealth Management.
- 2024
Andrea Montague becomes chief executive[1]
Leadership change
Andrea Montague succeeded Andrew Shepherd as chief executive on 1 October 2024.
- 2024
Brooks Macdonald agrees sale of international business[1]
M&A
The group announced the sale of Brooks Macdonald International to Canaccord Genuity Wealth Management Limited.
- 2024
Brooks Macdonald acquires Lucas Fettes Financial Planning[1]
M&A
The group announced the acquisition of Norwich-based Lucas Fettes Financial Planning, completed on 2 December.
- 2024
Brooks Macdonald acquires LIFT-Financial Group[1]
M&A
The company announced the acquisition of Altrincham-based LIFT-Financial Group, which completed in February 2025.
- 2024
Brooks Macdonald completes CST Wealth Management acquisition[1]
M&A
The group completed its acquisition of Welsh wealth-management firm CST Wealth Management.
- 2023
Brooks Macdonald partners with Family Business United[1]
Campaign
The group announced a partnership supporting financial planning and investment management for 250 UK family businesses.
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