Brooks Macdonald has acquired Lucas Fettes Financial Planning.
Completion of the deal is subject to regulatory approval, which is expected no later than the first quarter of 2025.
Norwich-based Lucas Fettes has seen significant growth in assets over the past five years. It has amassed around £890m in assets under advice across 1,600 personal clients, plus £300m in ‘assets under influence’ from more than 300 corporate and employee benefits clients.
Lucas Fettes will be integrated into Brooks Macdonald’s Direct Wealth business.
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In 1996, Lucas Fettes was one of the first IFAs to outsource part of its investment management to Brooks Macdonald and the relationship has continued since, with the firm being one of Brooks’ top 10 introducers.
Andrea Montague, CEO designate and CFO of Brooks Macdonald, said: “We are delighted to announce the acquisition of Lucas Fettes. Today’s announcement aligns with our redefined strategy to reignite growth, as it will broaden and deepen our client reach. This acquisition will strengthen our financial planning capability and enhance our presence in East Anglia.”
Mark Brown, managing director of Lucas Fettes, added: “We have worked with Brooks Macdonald now for over quarter of a century and are very pleased to be joining the group. Having carefully considered our future we believe now is the time to become part of a larger organisation with shared values and ambition.
“We are confident in our shared focus on quality and personal service, along with a determination to deliver market leading client outcomes.”
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