Brooks Macdonald Group Plc · LSE:BRK
Brooks Macdonald — Berenberg UK Opportunities Conference 2026
38 slides from Brooks Macdonald's conference presentation, Oct 6, 2026
Slide 1: Brooks Macdonald Group PLC
Brooks Macdonald Group PLC Berenberg UK Opportunities Conference 6 October 2026
Slide 2: Our strategy
Our strategy Andrea Montague , Chief Executive Officer BM
Slide 3: UK focused wealth manager with an effective investment proposition at its core
UK focused wealth manager with an effective investment proposition at its core We serve clients across Accumulators Inter-generational their entire Preparers Retirees wealth transfer financial lifecycle… …through our Investment Management: Financial planning: diversified and Bespoke Portfolio Serv
Slide 4: Business transformed having completed a phase of major investment
Business transformed having completed a phase of major investment H1 2024 Today Investment Manager Integrated distribution model covering external IFAs, investment management services and direct clients with focused distribution model enhanced regional coverage Product offering that Product range re
Slide 5: Focused on three strategic priorities
Focused on three strategic priorities Delivering excellent Broadening and Driving scale client service deepening client reach and efficiencies Flows and revenues Efficiency Supplemented by targeted M&A against strict criteria 5
Slide 6: Strong progress against our three strategic priorities
Strong progress against our three strategic priorities Delivering excellent Broadening Broadening and and deepening Driving scale Driving and scale client service deepening client client reach reach efficiencies and efficiencies Accelerated onboarding of new Integrated Distribution & Platform MPS Bu
Slide 7: We operate in a sizeable market with a significant opportunity
We operate in a sizeable market with a significant opportunity UK wealth management industry size £1.6tr • PMPS market projected to more than double to C.£450bn by 2030. Core wealth £1.2tr We have 3.7% market share today management market and are 7th largest platform MPS (excl. private banks £500bn
Slide 8: The UK Adviser Landscape
The UK Adviser Landscape Independent Financial Advisers (IFAs) make up a significant – and growing - part of the UK wealth management market Market Structure & Share2 £1.2 trillion 100% 80% 87% Total size of UK Wealth Management Market1 60% 55% 50% 40% 26% 24% 23% 22% 5,500 firms 20% 12% 1% 0% Offer
Slide 9: Strengthening Investment Management and Distribution
Strengthening Investment Management and Distribution £1.2tn* IFA AUA Market Opportunity £1.2tn* total UK adviser market assets under advice Nationals and Networks Launched BMSP proposition Integrated Investment Management and £550bn is held with nationals, networks & consolidators Distribution Team
Slide 10: BPS and MPS growth has accelerated
BPS and MPS growth has accelerated BPS MPS • BPS FUM up +9% • Continued fast growth in Platform MPS • Continued growth in portfolios >£1m • Underpinned by investment performance and product breadth • Improved client retention • Focused Distribution management Growth in >£1m BPS Segment 100% 90% 8.0
Slide 11: BMSP helps IFA firms face structural challenges affecting growth, capacity and long-term enterprise value
BMSP helps IFA firms face structural challenges affecting growth, capacity and long-term enterprise value MARKET PRESSURES Ageing client banks & rising retirement income complexity IFA FIRM NEEDS BMSP RESPONSE Adviser capacity constraints Margin pressure & rising regulatory expectations Capacity, st
Slide 12: Innovating to meet the retirement income market opportunity
Innovating to meet the retirement income market opportunity Within the next 15 years the UK population aged 65 and over is projected to increase to nearly a quarter of the total population1. In 2024/5, the number of new drawdown plans were c.4x more than the sale of new annuities2. CLARITY CHOICE CO
Slide 13: Brooks Financial established and ready to scale
Brooks Financial established and ready to scale FP revenue +10% Ready to Scale Average Portfolio Size Proven integration track Synergies Synergies record >£640k Commitment to independent £1.3m Synergies Delivered Advised & Managed Assets financial advice provides competitive advantage in FY26 58
Slide 14: Investment Management and Financial Planning revenue yields
Investment Management and Financial Planning revenue yields Significant opportunity to broaden existing client relationships and add new clients FY 2026 FUMA of £21.7bn (FUM of £19.3bn) Illustrative fee capture (bps) Direct wealth £1.8bn c50bps External IFA FUM c.60bps Advised c20bps £14.2bn Advised
Slide 15: Recent acquisition performance
Recent acquisition performance Strong performance of recent acquisitions, now with a fully integrated platform £m Acquired annualised FY25 PBT 3.0 FY26 Return on Investment Illustrative benefit to PBT of FY26 10% revenue 0.3 growth on like-for-like basis FY26 Cost synergies delivered 1.3 c.11% Combi
Slide 16: We are well positioned for the future and now have the capabilities in place
We are well positioned for the future and now have the capabilities in place to take advantage of the market opportunity Integrated Distribution and Brooks Financial Product Development Client Service Excellence Investment Management commitment to Independent MPS building blocks will enable us Singl
Slide 17: Our priorities for FY27
Our priorities for FY27 Delivering excellent Continued product innovation to Deploying AI, digital and automation client service meet evolving client needs to enhance customer service Broadening and Building reciprocal relationships with Nationals and Networks Build our BM Strategic Partnerships cli
Slide 18: Financial review
Financial review Katherine Jones, Chief Financial Officer BM
Slide 19: 2026 financial results
2026 financial results Record FUMA, revenue growth, efficiency benefits emerging Funds under management and advice Revenue Underlying costs £21.7bn 2025: £19.1bn £118.1m 2025: £111.6m £90.3m 2025: £85.2m Underlying profit Underlying Earnings per Share Dividends per Share £29.0m 2025: £28.9m 137.9p 2
Slide 20: Net flows and FUMA
Net flows and FUMA Net flows improved by more than £600m, supporting record FUMA of £21.7bn Net flows £m FUMA (£bn) +£622m +14% 226 224 21.7 19.1 2.4 5.7 2.6 5.3 (262) (134) (396) 2 19.3 16.5 FY25 FY26 FUM Advised only assets Assets under advice H1 25 H2 25 FY 25 H1 26 H2 26 FY 26 20
Slide 21: Bespoke Portfolio Service
Bespoke Portfolio Service BPS FUM +9%, including a c50% improvement in net outflows FUM (£m) Revenue (£m) +9% 1,100 (363) (0.7) (1.3) 1.9 (4.9) 9,265 8,528 65.4 65.3 60.4 FY25 Net Market and FY26 FY25 Net Yield Market and FY26 (excl Transactional & fx FY26 flows investment flows investment Transacti
Slide 22: Managed Portfolio Service
Managed Portfolio Service MPS FUM +30%, increasing revenue by +16% FUM (£m) Revenue (£m) +30% +16% 8,945 0.7 (0.5) 1.0 1,293 898 1.1 6,889 763 906 16.7 8,047 14.4 5,983 FY25 Net Market and FY26 FY25 Acquisitions Net Yield Market and FY26 Average flows investment PMPS flows investment 5,987 7,837 Yie
Slide 23: Financial Planning
Financial Planning Revenue +10% on a like for like basis, now c25% of total Group revenue Advised assets (£m) Revenue (£m) +10% 5,678 5,311 28.6 2,416 25.9 2.7 2,577 8.8 17.1 28.6 25.9 3,262 8.2 2,734 58% 51% 8.9 FY25 FY26 FY25 Acq'ns FY25 Inc Revenue FY26 Yield Acq'ns Growth bps 45.4 52.8 Advised a
Slide 24: Underlying cost analysis
Underlying cost analysis Efficiency actions and financial planning synergies create capacity for investment £m (3)% 1.6 85.2 7.8 (8.3) 4.0 6.2 Includes: Includes: Synergies £1.3m Front office / senior hires £3.0m Restructuring 93.0 £3.3m Client 90.3 79.0 engagement, Non-staff cost brand an
Slide 25: Cash position
Cash position Transformed the business to deliver growth and efficiency £m FY27 outlook • Organic investment: high single digit millions 9.3 • Net deferred consideration receivable £10m - £15m (12.7) (3.0) (9.1) 26.7 (5.1) (12.6) • AI & digital • Products & proposition • Completed (19.4) strategy te
Slide 26: Appendices
Appendices
Slide 27: Our Investment case
Our Investment case Investment Performance Products Investment Management and Investment Distribution Performance >5% Annualised net flows Investment <5% Cost discipline proposition Brooks Successful integration Financial UK focused wealth manager with an effective investment proposition at its core
Slide 28: BPS investment performance
BPS investment performance Strong long-term performance 1 year 3 years Our risk profiles are aligned to Asset Risk Consultants (“ARC”) indices & compare our average BPS performance against the relevant ARC index All risk profiles delivered returns exceeding their respective ARC peer group compar
Slide 29: MPS investment performance
MPS investment performance Strong long-term performance BM MPS Medium risk BM MPS Medium-to-high risk 140 180 117.6 160 152.8 120 Cumulative Return (%) 140 Cumulative Return (%) 97.0 100 120 104.8 80 100 80 60 60 46.6 38.5 38.1 38.9 40 33.3 32.4 37.8 33.6 40 22.1 18.5 18.0 17.1 20 20 0 0 1 year 3 ye
Slide 30: Turning visibility into value
Turning visibility into value Digital and Social Media Earned Media Partnerships Exclusive wealth management partner Website as a key digital tool to turn of BAFTA with 11 000 members leads into conversions Exclusive wealth management partner of HRR with 8000 members & 330K regatta visitors # Brooks
Slide 31: 2027 guidance
2027 guidance P&L outlook Cash and capital outlook Revenue Dividend FY26 revenue trends expected to continue into FY27 Progressive dividend policy IM fees on cash balances ceased from 1 July Final 2026 dividend of c£8.1 million payable in November Cost Organic Investment Expect moderate gr
Slide 32: FUMA and net flow performance
FUMA and net flow performance Opening Organic net flows Market and Closing assets assets Net flow FUM investment growth 2 growth 1 1 Jul 2025 Q1 26 Q2 26 Q3 26 Q4 26 Total performance 30 Jun 2026 BPS 8,528 (157) (54) (132) (20) (363) 1,100 9,265 (4.3)% 8.6% MPS Custody 906 (35) (38) (35) (44) (152)
Slide 33: Quarterly net flows
Quarterly net flows Our fourth quarter net flows mark our strongest performance in three years £m 960 994 997 771 711 693 578 529 167 50 58 (5) (49) (111) (151) (129) (640) (729) (742) (776) (840) (830) (910) (936) Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Q4 26 Gross inflows Gross outflows Net flow
Slide 34: PMPS gross flow definition change from Q1 27
PMPS gross flow definition change from Q1 27 Revised approach to calculation of gross inflows and gross outflows for PMPS £m Q1 26 Q2 26 Q3 26 Q4 26 Q1 26 Q2 26 Q3 26 Q4 26 Q1 26 Net Q2 26 Net Q3 26 Net Q4 26 Net Reported Inflows Inflows Inflows Inflows Outflows Outflows Outflows Outflows flows flow
Slide 35: Analysis of revenue and yield
Analysis of revenue and yield Revenue (£m) Average FUM (£m) Yield (bps) Change Change Change FY26 FY25 FY26 FY25 FY26 FY25 £m % bps BPS fees 51.3 51.4 (0.1) 8,602 8,373 2.7 59.6 61.4 (1.8) BPS non-fees (transactional) 9.1 14.0 (4.9) 10.6 16.7 (6.1) Total BPS 60.4 65.4 (5.0) 8,602 8,373 2.7 70.2 78.1
Slide 36: Revenue performance
Revenue performance Brooks Financial drives revenue growth FY26 FY25 £ millions Fee income growth primarily driven by Fee income 74.4 72.9 increased FUM Financial Planning income includes Financial Planning income 28.6 17.1 acquired businesses for full year. Revenue up 10% on a like for like bas
Slide 37: Regulatory capital position
Regulatory capital position Investment to drive growth and efficiency £m (12.7) 22.0 (3.0) 45.2 (17.1) 15.6 33.5 (5.1) 5.9 8.2 (4.0) 29.6 27.6 FY25 Underlying Dividends Share Strategic Restructuring M&A Other1 FY26 profit paid buyback transformation / capex Regulatory requirement and internal buffer
Slide 38: Capital allocation framework aligned to strategic priorities
Capital allocation framework aligned to strategic priorities Robust capital position Capital Dividends resilience Committed to including a 25% internal progressive buffer in excess of dividend policy regulatory requirements Excess capital Aligned to strategic pillars Growth acceleration or and prior
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