Brooks Macdonald revenue passes £100m for first time despite tougher regulatory demands

Increased 14.4%

Brooks Macdonald has posted revenues of over £100m for the first time despite increases in regulatory demands.

The firm's revenue increased 14.4% to £101.6m in the year to 30 June, while its total discretionary funds under management (FUM) grew 18.7% to £12.4bn. This was despite meeting a number of regulatory demands such as absorbing an additional £4m in its risk management and operational framework, implementing MiFID II and GDPR and strengthening the management team. The firm's UK investment management arm was a strong performer, rising 18.3% to £7.8bn, but profits were impacted by the costs of regulatory change. As part of the end of year process, the firm saw a £2.5m cost relating to c...