Pre-tax profit at UK-listed wealth management firm Brooks Macdonald rose 16 per cent year-on-year in the six months to 31 December, 2013, standing at £4.93 million ($8.2 billion), it said today.

Pre-tax profit at UK-listed wealth management firm Brooks Macdonald rose 16 per cent year-on-year in the six months to 31 December 2013, standing at £4.93 million ($8.2 billion), it said today.

Adjusted pre-tax profit rose 1 per cent over the period to £6.16 million, it said in a statement. (The adjustment is for acquisition costs and amortisation of client relationships.)

Total discretionary funds under management rose 23 per cent to £5.68 billion, the firm said. There was organic growth of £570 million, or 11 per cent, over the six-month period; over the six months, by way of comparison, the APCIMS Balanced index of returns rose by 5 per cent.

The group consists of six principal companies: Brooks Macdonald Asset Management, a discretionary asset management business; Brooks Macdonald Funds, a fund management business; Brooks Macdonald Financial Consulting, a financial advisory and employee benefits consultancy; Brooks Macdonald Asset Management (International), a Jersey and Guernsey-based provider of discretionary investment management and stockbroking; Brooks Macdonald Retirement Services (International), a retirement planning services provider and Braemar Estates (Residential), an estate management company.