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Brooks Macdonald Group Buy 07-Dec-12 £29,832.30 Jonathan Gumpel 2,286 @ 1,305.00p Brooks Macdonald Group Buy 07-Dec-12 £29,832.30 Chris A MacDonald 2,286 @ 1,305.00p
Brooks Macdonald, an AIM-listed integrated wealth management group, has reported an 'encouraging' first quarter, which delivered an increase in funds under management. At September 30th, discretionary funds under management totalled £3.751bn, up 6.5% compared to three months earlier. These numbers include Brooks Macdonald Funds, but exclude Braemar Estates and the group's new investment management administration service. Chris Knight, Chairman of Brooks Macdonald said: "Last year was tough but successful for Brooks Macdonald as we continued to grow funds under management and profits. The group is well positioned for RDR, financially stable and has a number of exciting growth opportunities."
Following the sale the directors have entered into a lock-up agreement whereby each of them and their families will not sell or transfer any of their shares without the written consent of the company for the next two years.
Three of the founders of Brooks Macdonald, an AIM-50 wealth management group, have sold a total of 385,000 shares for 1,275p, but insisted they remain 'fully committed' to the company. Chris Macdonald, the Chief Executive, reduced his stake by 150,000 shares, Richard Spencer by 130,000 and Jonathan Gumpel by 105,000. Christopher Knight, Chairman, said: "They have sold down their stakes for personal investment diversification reasons. The disposal has the benefit of improving liquidity in the company's shares. Retaining approximately 20.4% of the company's shares in aggregate, the directors are fully committed to the company and their interests remain wholly aligned with those of all shareholders."
Twin sale of shares at Brooks MacDonald The founding director and chief investment officer (CIO) of Brooks MacDonald have each sold 10,000 shares in the firm at 1,211p. The man behind the investment fund management firm, Chris MacDonald, who also holds the role of chief executive officer, made the £121,100 sale alongside his co-worker and CIO, Richard Spencer, less than one month after the firm announced a 37% rise in underlying pre-tax profit to £7.8m. MacDonald was clearly pleased with the result, saying at the time, "this has been another year of significant growth for the group."
Brooks Macdonald is a fund management and advisory business focused on individual clients. (…) The company originally centred its attention on wealthy clientele with more than £150,000 of liquid assets, but in response to growing demand it broadened its offer to people with considerably less cash. (…) A fortnight ago, the group posted its full-year results to June 30, showing a 37 per cent rise in pre-tax profits to £7.8 million (…) and a 67 per cent increase in the dividend to 15p. Volatile markets have increased savers’ desire for advice and demand for Sipps is growing, both trends that should benefit the firm. The shares were 710p in May last year. Today, they are up 71% at 1215p. Investors who bought last year could sell 30 to 50 per cent of their shares to bank some profits but it would be unwise to sell completely. This company has several years of solid growth ahead, says Midas.
Commenting on the results, Chris Macdonald, CEO, said: "This has been another year of significant growth for the Group. We remain well-positioned to take advantage of industry change, notably the implementation of the Retail Distribution Review ('RDR'), and continue to see a number of opportunities to increase our presence in the marketplace. "Our aim is to continue to grow our discretionary funds under management, through organic investment, acquiring investment management teams, expanding our regional presence, and developing our product and service offering."
Business Highlights - 36% growth in discretionary FUM driven by growth in distribution, capacity, strategic alliances and investment capability - 'Free cash' of £13m supports continuing organic investment and acquisitions - Acquisition of Braemar and launch of new funds business - 67% increase in dividend reflecting the Group's strong dividend cover
http://www.investegate.co.uk/Article.aspx?id=201109140700091780O
Brooks Macdonald (BRK) has agreed to buy the investment management activities of Clarke Willmott, for 1.56 million pounds in cash. Further sums will be paid after completion of the acquisition for a total consideration of 6 million pounds. The move is in-line with the financial services firm's strategy of acquiring investment management teams and increasing its product range. Chief executive Chris Macdonald commented: "This acquisition will form the nucleus of our new office, to be based in Taunton." Shares in Brooks crumbled 65p to 940p.
Brooks MacDonald confident after profits rise Date: Wednesday 16 Mar 2011 LONDON (ShareCast) - Wealth manager Brooks Macdonald said it was well-placed to cash in on the Retail Distribution Review (RDR) as it posted a rise in profits and revenues. Pre-tax profits in the six months to 31 January rose to £3.06m from £2.47m in the same period the previous year as revenues rose to £25.07m from £16.39m. Funds under management climbed by 46% to £2.689bn. “The company has had another strong period with growth across all of its activities, underpinned by continued strong performance from our fund management teams and the support received from the professional intermediary market,” chief executive Chris Macdonald said. “We continue to look to grow and invest across the business confident that the group is well positioned for the opportunities ahead, including those presented by the Retail Distribution Review.” The RDR was launched by the Financial Standards Authority to improve consumer confidence in financial firms.
In today's Mail on Sunday http://www.dailymail.co.uk/money/article-1270353/MIDAS-SHARE-TIPS-Brooks-takes-refreshing-Sipp-better-future.html Midas verdict: At 7271/2p, shares in Brooks Macdonald have done well over the past 12 months, but there is still plenty of potential in the stock. The company is opening new offices across Britain, it is becoming better known among independent financial advisers and other professional advisers and it intends to acquire other, small fund managers, where appropriate. There is £10 million of cash on its balance sheet, the company is good at what it does and it operates in a growth industry. Buy.
Well nice
Nice rise today.Hay. Up 12.8% keep on going
Well nice!
Bigger punter than me.1750 @ 5.58.
Who's just bought 300 @ the same price?
371 @ 5.5925. Think its looking good for a momentum share,despite a director sell.