“We have momentum and are well positioned for further growth.”
Brooks Macdonald Group plc (“Brooks Macdonald” or the “Group”) today announces results for the six months to 31 December 2025 (“H1 2026” or “H1”).
Andrea Montague, CEO of Brooks Macdonald, commented:
“Today’s results demonstrate we have good momentum across the business starting with positive net flows and better revenues. We’ve established Brooks Financial and completed the integration creating a scalable, whole of market financial planning capability. We’ve made deliberate investments in the business to drive sustainable growth and I’m confident our capability in investment management and distribution positions us for the future.”
Financial highlights
- Total funds under management and advice1 (“FUMA”) increased by 5% to £20.1 billion (30 June 2025: £19.1billion). Of this, funds under management1 (“FUM”) were £17.8 billion and advised only assets were £2.3 billion.
- Net inflows of £2 million (H1 2025: net outflows £262 million), first half year of positive net flows since H2 2023.
- Revenue increased by 12% to £58.2 million, supported by higher financial planning and fee income, partly offset by lower interest and transactional income.
- Total underlying costs increased by 3% to £45.4 million, excluding acquisitions and net finance income2. Overall underlying costs, including acquisitions increased by 20%, compared to the prior period (H1 2025: £37.8 million).
- Underlying profit before tax (“PBT”) of £13.6 million, representing a margin of 23.4%.
- Statutory PBT of £6.2 million (H1 2025: £12.6 million) reflects higher organic investment, M&A and integration costs.
- The Board has recommended an interim dividend of 31.0 pence per share, up 3%.
Strategic and operational highlights
- Executing our ‘Reignite Growth’ strategy, with good progress across all three strategic priorities.
- Deliberate investments in the business in areas such as digital capability, AI and product innovation to deliver excellent client service, broaden and deepen client reach, drive scale and efficiency and a return to positive net flows.
- Continued to enhance the client experience through digital developments including the launch of the Brooks Macdonald mobile app and improved onboarding of clients through digitisation.
- Advanced strategic initiatives across client service, distribution, product innovation, and efficiency, including nationwide adviser engagement.
- Deploying AI to reduce administrative burden which will free capacity to spend more time serving clients.
- Focus on efficiency delivered organisational restructuring savings equivalent to £3 million on an annualised basis.
- Delivered consistent year-on-year double-digit growth in Managed Portfolio Service (“MPS”) assets.
- Bespoke Portfolio Service (“BPS”) assets growth of 4%, with c.50% reduction in net outflows, 8% increase in high-net-worth client numbers and an increase of 4% in advisers using more than one BPS service.
- Established Brooks Financial and completed the integration. Realised over £1 million in annualised cost synergies and established a scalable, whole of market financial planning business with 98% client retention.
- Strong investment performance delivered by our Centralised Investment Proposition is underpinning momentum in both BPS and MPS.
- Defaqto Gold award for Discretionary Fund Management Service for the fifth consecutive year.
Key financials
£ millions unless stated otherwise | H1 2026 | H1 2025 | Change |
|---|---|---|---|
Revenue | 58.2 | 51.9 | 12% |
Underlying operating expenses2
| (45.4) | (37.8) | 20% |
Underlying PBT | 13.6 | 15.5 | (12)% |
Underlying operating profit margin | 23.4% | 29.9% | (6.5)ppts |
Statutory PBT | 6.2 | 12.6 | (51)% |
Underlying diluted earnings per share | 64.2p | 68.8p | (7)% |
Statutory diluted earnings per share from cont. operations | 29.4p | 56.2p | (48)% |
Interim dividend per share | 31.0p | 30.0p | 3% |
The table above includes alternative performance measures used by the Group. Further detail, including reconciliations to statutory measures, is presented in the Financial review section of this announcement.
Outlook and notice of third quarter 2026 FUMA update
We remain focused on delivering our ‘Reignite Growth’ strategy and expect to continue to invest organically in initiatives aligned to our strategic priorities, as well as reviewing potential financial planning M&A opportunities.
We expect H1 revenue trends to continue into H2 and for H2 costs, before the FSCS levy, to remain broadly in line with H1. We currently expect the full-year 2026 financial performance to be in line with market expectations and remain confident in delivering our medium-term targets of annualised net flows of +5% and BAU cost growth of <5%.
The Group will publish its third quarter 2026 FUMA update on 15 April 2026.
2026 half-year results presentation
A presentation to investors and financial analysts, including a recorded webcast will be published shortly on our website here.
A Q&A session with Andrea Montague, CEO, and Katherine Jones, CFO, will be held at 9.00am GMT on 24 February 2026, via a live webcast, or by dialling in using the conference call details below. Registration for the Q&A is required and can be accessed via a link: https://brrmedia.news/BM_HYQ&A
Dial in numbers:
UK-wide: +44 (0) 33 0551 0200
UK toll free: +44 (0) 808 109 0700
Password (if prompted): Quote ‘Brooks Macdonald’
Notes:
Numbers are subject to rounding.
- On 8 December 2025, two TM Brunsdon funds, managed by Brooks Macdonald Asset Management Limited (“BMAM”) on behalf of Brunsdon Financial, were merged with two IFSL Magnus funds, and BMAM ceased to act as their investment manager. The earlier periods have been amended accordingly to reflect the funds’ liquidation. Prior to their liquidation, net outflows across both funds in the second quarter added to £0.1 million, which have also been excluded from the reported Funds net flows. Over the past four quarters, combined FUM across the two funds averaged £128 million, with combined average quarterly net outflows of £0.1 million.
- Excludes net finance income of £0.8 million (H1 2025: £1.4 million).
Enquiries to:
Investor enquiries
Brooks Macdonald
Andrea Montague, CEO
Katherine Jones, CFO
Eva Hatfield, Director of Investor Relations +44 (0) 7418 923 061
Email: [email protected]
Media enquiries
Misha Bayliss +44 (0) 20 74275465
Oscar Burnett +44 (0) 20 74275435
Email: [email protected]
Important Information
About Brooks Macdonald
Brooks Macdonald Group plc is a leading UK-focused wealth manager.
Proudly serving IFAs and clients since 1991, Brooks Macdonald is independent, financially strong, and aims to deliver strong and consistent investment performance for clients to meet their financial objectives. Brooks Macdonald provides innovative investment solutions to support IFAs and their clients throughout their entire lives as needs and circumstances change. The Group is recognised as an innovator in the industry having been one of the first to develop and launch key products such as Managed Portfolio Service.
Realising Ambitions. Securing Futures. We are Brooks Macdonald.
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