Acquisition of Adroit Financial Planning Limited

Brooks Macdonald Group plc Acquisition of Adroit Financial Planning Limited

Brooks Macdonald Group plc (“the Group”, “Brooks Macdonald”) and Slater and Gordon UK Limited (“Slater and Gordon, “S+G”) today announce, subject to regulatory approval, the acquisition of Adroit Financial Planning Limited (“Adroit”) by Brooks Macdonald from Slater and Gordon.

Based in Manchester, and specialising in the Personal Injury and Clinical Negligence sector, Adroit is a successful and rapidly growing Independent Financial Adviser (“IFA”) firm with Assets Under Advice of c.£350m and c.650 clients. The transaction will see the service seamlessly transfer to Brooks Macdonald with all Adroit’s staff moving across – resulting in no redundancies and no impact on their clients. As part of the transaction, Adroit and Slater and Gordon will sign a referral agreement to support continued close working between the firms.

Alongside the acquisition of Integrity Wealth Solutions, announced earlier this year (subject to regulatory approval), Adroit will bring further scale to Brooks Macdonald’s Private Clients business, adding distinctive expertise in their specialist area. The transaction builds on Brooks Macdonald’s success to date in executing selective high-quality acquisitions that are a good strategic and cultural fit to support the Group’s ambitious growth plans.

The transaction forms part of S+G’s recent strategic reorganisation; creating two separate yet collaborative parts of the business – Essential Legal Services and Specialist Legal Services. Adroit will continue to work closely with S+G to ensure clients have the support they require.

Clients will see no change to their products and services and, over time, will see the benefits from the support and infrastructure of a larger wealth management firm. Adroit’s Head of Financial Planning Services, Neil Jefferies, will continue to lead the team at Adroit, alongside contributing to the broader Brooks Macdonald business.

Andrew Shepherd, CEO of Brooks Macdonald, commented:

“We have worked closely with Neil Jefferies and the team at Adroit since the early days of the firm. We admire their technical expertise and approach to clients and we are delighted to give them the opportunity with Brooks Macdonald to build and accelerate on their existing strong foundations.  

“An integral part of our proposition is to offer successful IFA partners like Adroit an opportunity to become part of a larger wealth management firm, adding both scale and capability, when the time is right for them. A shared culture and a focus on delivering a quality service provide a solid foundation from which to take advantage of exciting growth opportunities. I very much look forward to welcoming everyone at Adroit to Brooks Macdonald, enabling us to go from strength to strength together.”

Slater and Gordon CEO Nils Stoesser said:

“I am pleased to confirm the sale of Adroit to Brooks Macdonald as they will be an excellent owner to build on what Adroit has achieved under the Slater and Gordon ownership.

“It is crucial that our clients receive expert, independent financial advice and support, and we are committed to continuing the excellent and close working relationship we have with Adroit.

“We wish Neil and his team ongoing success under new ownership and look forward to continuing working with them.” 

Neil Jefferies, Head of Financial Planning Services at Adroit, added:

“The move to Brooks Macdonald will be seamless and smooth as we will continue to provide the same level of service to Slater and Gordon clients as well as those introduced from our existing network of law firms.

“I’m delighted to be joining Brooks Macdonald, whose commitment to clients mirrors our own, and I look forward to working with Andrew and his team.”

Enquiries to:

Notes to editors

Brooks Macdonald Group plc, through its various subsidiaries, provides leading investment management services in the UK and internationally. The Group, which was founded in 1991 and began trading on AIM in 2005, had discretionary Funds under Management of £15.7 billion as at 30 June 2022.

Brooks Macdonald offers a range of investment management services to private high net worth individuals, pension funds, institutions, charities and trusts. The Group also provides financial planning as well as international investment management, and acts as fund manager to a range of onshore and international funds.

The Group has fourteen offices across the UK and Crown Dependencies: London, Birmingham, Cheltenham, East Anglia, Exeter, Leeds, Manchester, Southampton, Tunbridge Wells, Scotland, Wales, Jersey, Guernsey and Isle of Man.

www.brooksmacdonald.com / @BrooksMacdonald