Brooks Macdonald has completed the acquisition of LIFT, including LIFT-Financial Group Limited and LIFT-Invest, after the deal was first announced last October.
LIFT is based primarily in Manchester, with offices in London and Edinburgh. The deal will bring an additional £1.6bn in assets under advice to Brooks Macdonald’s financial planning business, for a total of £6.4bn.
As it comes under the Brooks Macdonald umbrella, LIFT founder Michael Holden will become chief executive of financial planning for Brooks Macdonald.
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Holden and Joel Adams, founders of LIFT, said: “We are incredibly proud of everything LIFT has achieved. We are confident the acquisition by Brooks Macdonald is the right step for the future of the business, our clients, and our team. Brooks Macdonald shares our values and commitment to excellence, and we are forming the best combination for further success.”
Holden added: “Looking ahead, I’m excited to lead the Financial Planning business. Building a solid, Chartered business and investing in the next generation through initiatives like the Adviser Academy has always been a passion of mine. With Brooks Macdonald, I’m eager to build on this foundation and help drive the Financial Planning business forward.”