Brooks Macdonald Group said today (2 December) that it has completed the acquisition of Lucas Fettes Financial Planning, a Norwich-based financial planning provider.
Lucas Fettes will be integrated into Brooks Macdonald’s Direct Wealth business, enhancing the group’s financial planning capability and enhance its presence in East Anglia.
Andrea Montague, chief executive officer of Brooks Macdonald, said: “I’m excited to formally welcome our new colleagues into the Group expanding our expertise in financial planning to serve more clients across the UK.”
Mark Brown, managing director of Lucas Fettes, said: “We are delighted to have joined Brooks Macdonald and look forward to supporting future growth as part of their developing high-quality financial planning division.”
Lucas Fettes has c.£890m assets under advice (AUA) in total, spread across 1,600 personal clients, plus c.£300m “Assets under Influence” from more than 300 corporate and employee benefits clients.
In 1996, Lucas Fettes was one of the very first IFAs to outsource part of their investment management to Brooks Macdonald and the relationship has continued ever since, with Lucas Fettes one of the Group’s Top 10 introducers.
