Third Quarter FY26 FUMA Update
Brooks Macdonald Group PLC reported a third-quarter update for its 2026 financial year, showing total funds under management and advice (FUMA) of £19.9 billion, a decrease from £20.1 billion at the end of the previous quarter, primarily due to £301 million in adverse market and investment movements. The company achieved net inflows of £58 million, a significant improvement from the £129 million net outflows in the same quarter last year, with Platform MPS delivering strong net inflows of £281 million. Despite challenging macroeconomic conditions impacting market performance, the Group anticipates its full-year 2026 financial performance to remain in line with expectations.
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Third Quarter FUMA Update
Brooks Macdonald Group plc ("Brooks Macdonald" or the "Group") today announces flows and funds under management and advice ("FUMA") for the third quarter of its 2026 financial year. All statements in this release relate to the period from 1 January 2026 to 31 March 2026 ("quarter" or "Q3") unless otherwise stated.
Andrea Montague, CEO of Brooks Macdonald, commented:
"I am pleased to report another quarter of positive net flows, with strong momentum in Platform MPS and continued improvement in BPS outflows.
Our strategy to 'Reignite Growth' is delivering. Our targeted distribution coupled with our strong long-term investment performance are building real momentum across the breadth of our products and services. Brooks Financial continues to demonstrate the value of our investment in financial planning, serving more clients and driving net flows.
The wealth management sector continues to offer attractive growth opportunities. We remain focused on the execution of our strategy to deliver long-term sustainable returns."
Q3 flows and FUMA
- Total FUMA of £19.9 billion (31 December 2025: £20.1 billion, 30 June 2025: £19.1 billion) reflecting net inflows of £58 million, and £301 million of adverse market and investment movements.
- Of this, total FUM was £17.5 billion (31 December 2025: £17.8 billion) including BPS of £8.6 billion, and MPS of £8.0 billion.
- Total assets under advice ("AuA") were £5.3 billion (31 December 2025: £5.3 billion), of which £2.4 billion were Advised only assets.
- Q3 net inflows of £58 million represent a material improvement compared to net outflows of £129 million in Q3 2025, and the second successive quarter of positive net flows.
- Net BPS outflows improved by almost 40% vs Q3 2025 to £132 million (Q3 2025: net outflows of £211 million), with both higher gross inflows and lower gross outflows. We have seen a broad-based improvement across the regions following our sustained focus on client engagement and strengthening distribution momentum over the past 18 months.
- Platform MPS continued to deliver strong net inflows of £281 million, equivalent to an annualised net flows growth rate of 16%. This reflects improved net inflows across Platform MPS and Brooks Macdonald Investment Solutions ("BMIS"), our business to business offering for financial advisers, as well as encouraging net inflows in our recently launched Platform Retirement Strategy and Global MPS offering.
- The negative market and investment performance of £0.3 billion in the quarter reflects the challenging macroeconomic conditions. Our long-term investment performance remains strong.
Outlook and upcoming results
Notwithstanding the inherent market uncertainty posed by ongoing global macroeconomic and geopolitical tensions, the full year 2026 financial performance remains in line with the Board's previous expectations.
The fourth quarter FUMA update will be published on 9 July 2026 and the Financial Results for the year ending 30 June 2026 will be announced on 3 September 2026.
| Advised only assets 6 | 2,320 | 2,359 | 1.7% |
| Total FUMA 4,7 | 20,106 | 19,902 | (1.0)% |
Net flows by service for the nine months ended 31 March 2026 (£m)
| Opening assets 1 Jul 25 | Gross inflows | Gross outflows | Net flows | Market and investment performance | Closing assets 31 Mar 26 | FUM growth 1 | Annualised net flows growth 2 | |
|---|---|---|---|---|---|---|---|---|
| BPS | 8,528 | 690 | (1,033) | (343) | 400 | 8,585 | 0.7% | (5.4)% |
| MPS Custody | 906 | 24 | (132) | (108) | 64 | 862 | (4.9)% | (15.9)% |
| MPS Platform 3 | 5,983 | 1,831 | (1,188) | 643 | 465 | 7,091 | 18.5% | 14.3% |
| Total MPS | 6,889 | 1,855 | (1,320) | 535 | 529 | 7,953 | 15.4% | 10.4% |
| Funds 4 | 1,084 | 102 | (235) | (133) | 54 | 1,005 | (7.3)% | (16.2)% |
| Total FUM 4,5 | 16,501 | 2,647 | (2,588) | 59 | 983 | 17,543 | 6.3% | 0.5% |
| Advised only assets 6 | 2,577 | 2,359 | (8.5)% | |||||
| Total FUMA 4,7 | 19,078 | 19,902 | 4.3% |
Net flows by service for the quarters ended 31 March 2026 (Q3 26), 31 December 2025 (Q2 26), 30 September 2025 (Q1 26) and 31 March 2025 (Q3 25) (£m)
| Gross inflows | Gross outflows | Organic net flows | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Q3 25 | Q1 26 | Q2 26 | Q3 26 | Q3 25 | Q1 26 | Q2 26 | Q3 26 | Q3 25 | Q1 26 | Q2 26 | Q3 26 | |
| BPS | 148 | 145 | 345 | 200 | (359) | (302) | (399) | (332) | (211) | (157) | (54) | (132) |
| MPS Custody | 13 | 7 | 9 | 8 | (40) | (42) | (47) | (43) | (27) | (35) | (38) | (35) |
| MPS Platform 3 | 508 | 511 | 575 | 745 | (360) | (336) | (388) | (464) | 148 | 175 | 187 | 281 |
| Total MPS | 521 | 518 | 584 | 753 | (400) | (378) | (435) | (507) | 121 | 140 | 149 | 246 |
| Funds 4 | 42 | 30 | 31 | 41 | (81) | (62) | (76) | (97) | (39) | (32) | (45) | (56) |
| Total 5 | 711 | 693 | 960 | 994 | (840) | (742) | (910) | (936) | (129) | (49) | 50 | 58 |
Notes:
Totals are subject to rounding.
- FUM growth is defined as the change in FUM over the period as a percentage of opening FUM.
- MPS Platform includes BMIS, the Group's business to business offering for financial advisers.
- 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.
- Total FUM includes £3.0 billion of assets (31 December 2025: £3.0 billion) that are both advised and managed by the Group and £1.6 billion of Direct Wealth assets (31 December 2025: £1.6 billion).
- Advised only assets are invested and managed by third parties and, as such, are excluded from assets under advice which are also invested and managed in a Brooks Macdonald proposition.
- Total FUMA includes £5.3 billion of AuA (31 December 2025: £5.3 billion).
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