Brooks Macdonald Partners With IFA Firm

Stephen Little

25 April 2014

UK-listed , the wealth management firm, has signed a strategic partnership with London-based accountancy and financial services firm Reeves that will allow its clients access to use Brooks's discretionary services.

The service provides access to a choice of six actively-managed, risk-rated, diversified portfolios across Reeves’s clients via the Standard Life platform, Brooks said in a statement.

“We are very excited to work with Brooks Macdonald Asset Management who demonstrated to us that they have a clear understanding of the needs of our business and our clients as well as the resources to deliver,” said David Hurst, partner at Reeves.

“Reeves’s clients already benefit from a wide range of services provided by our team of highly skilled and qualified professionals and the addition of the investment management expertise provided by BMAM will further enhance our status as a major provider of financial planning and wealth management services,” Hurst added.

Earlier this month, Brooks Macdonald acquired Jersey-based DPZ Capital Management for an initial sum of £5.7 million ($9.5 million), a deal that boosts discretionary funds under management by £360 million to a total of £6.04 billion. For more on this story, click here.

Brooks Macdonald saw its discretionary funds under management increase 4.2 per cent to £5.92 billion in the first quarter. In comparison, the WMA balanced index fell 0.3 per cent over the same period.