In a strategic move to bolster its presence in financial planning, Brooks Macdonald has acquired Lift Financial Group and Lift Invest, subject to regulatory approval.
- The acquisition involves a substantial initial payment with the potential for an even larger total consideration, reflecting Lift’s value.
- Lift, based in Greater Manchester and with offices in London and Edinburgh, boosts Brooks’ assets under advice considerably.
- The client base and assets under management at Lift are significant, indicating a strong market position within the UK.
- The deal is expected to reach completion by March 2025, confirming Brooks’ continuing expansion strategy.
Brooks Macdonald Group, in a forward-thinking move, has announced the acquisition of the financial advice company Lift. This acquisition, valued at up to £45 million, is expected to strengthen Brooks Macdonald’s position within the financial planning sector. The deal is subject to regulatory approval and involves the acquisition of 100% of Lift Financial Group and Lift Invest’s issued share capital. An initial £30 million will be paid in cash upon completion, with up to £15 million additional, contingent on achieving certain financial targets.
Lift, headquartered in Greater Manchester, also operates offices in London and Edinburgh. It is recognised for its high-quality service, catering to approximately 1,400 clients, mainly private individuals and businesses. At the end of the previous fiscal year, Lift reported assets under advice amounting to around £1.6 billion, with £600 million of those being funds under management.
This acquisition signifies Brooks Macdonald’s continued commitment to expanding its client base and service offerings within the UK financial sector. The deal is particularly notable for its timing, with completion set for March 2025, aligning with Brooks Macdonald’s comprehensive growth strategy.
By acquiring Lift, Brooks Macdonald not only increases its assets under advice but also enhances its strategic positioning in key UK regions. Lift’s existing client base and financial strength present an attractive enhancement to Brooks Macdonald’s portfolio, further reinforcing its status in the financial services industry.
The acquisition of Lift by Brooks Macdonald represents a strategic enhancement of its financial planning services, set to complete by March 2025.
