Andrea Montague

The wealth manager’s net inflows for the three months to 30 September compare with net outflows of £49m a year earlier. It is the fourth consecutive quarter of positive net inflows, although the figure is down from £167m in the previous quarter.

Funds under management (FUM) and advice rose to £21.8bn from £21.7bn at the end of June.

Funds under management were £19.5bn, up from £19.3bn, with market and investment performance adding £165m. Total FUM includes £3.4bn of assets that are both advised and managed by the group, up from £3.3bn at the end of June, and £1.8bn of direct wealth assets, unchanged over the period.

Net outflows from the bespoke portfolio service (BPS) were £53m, about two thirds better than the £157m recorded a year earlier. The firm said gross inflows and outflows both improved, crediting its strengthened regional presence and focus on high net worth clients.

Platform managed portfolio service (MPS) was the strongest performer, with net inflows of £172m compared with £175m a year ago. MPS custody and funds both saw net outflows, of £28m and £37m respectively.

At financial planning arm Brooks Financial, 59% of its £5.7bn of assets under advice is both advised and managed by the group, up from 58% at the full year.

Andrea Montague, chief executive at Brooks Macdonald, said: “Four consecutive quarters of positive net inflows show that our Reignite Growth strategy is delivering. Stronger adviser relationships, disciplined execution, and continued growth in financial planning are accelerating our progress.

“We have invested in our regional presence with new investment managers and financial planners. The modernisation of our MPS range makes it simpler for advisers and clients to work with us.

“This is a positive start to the year, and we are focused on building on that momentum.”