Strategic Report
Governance Report
Financial Statements
Other Information
163.8p Underlying basic EPS up 6.5% from the FY23 figure of 153.8p 78.0p Dividend up 3.0p or 4.0% (FY23: 75.0p)
dividend will be paid on 1 November 2024 to shareholders on the register at the close of business on 20 September 2024. We have increased our dividend each year for 19 years, demonstrating the capital strength of our business through the cycle and our commitment to shareholder returns. Governance In March 2024, following a nine-year term on the Board, Richard Price stepped down after various positions including Chair of the Audit Committee, Senior Independent Director and Acting Chair. I would like to thank Richard for the significant contribution he made to Brooks Macdonald and for leaving the Group in a strong position. In June this year, we announced that Chief Executive Officer, Andrew Shepherd will be retiring after 22 years with the Group. From 1 October 2024, our Chief Financial Officer, Andrea Montague, will be appointed as Chief Executive Officer, subject to regulatory approval. Andrea has been working closely with Andrew since this announcement and has been in position as Chief Executive Officer Designate since 1 July 2024. I am confident of a smooth handover and that Andrea’s demonstrated experience, pace and leadership stand her in excellent stead to deliver our ambitious growth plans. I would like to take this opportunity to reiterate the gratitude of the Group to Andrew for the immense contribution he has made to Brooks Macdonald during his tenure as Chief Executive Officer and for the many years before. He has shown extraordinary dedication and commitment to the Group.
We will miss ‘Shep’ and wish him all the best in the future.
inflation stress seems to be behind us and a first BOE base rate reduction bodes well for the clients of wealth managers. The bank of mum and dad alongside the temptation of debt reduction has been and remains tough competition for wealth managers, but with further rate cuts on the horizon, prospects are looking up for long-term investment strategies as offered by Brooks Macdonald. Under Andrea’s leadership our redefined strategy, coupled with a strong balance sheet and robust cash generation will ensure we continue to be well positioned for the future. Finally I would like thank our shareholders for their continued support, our colleagues for their hard work and our clients and partners for their business and trust in our organisation.
Culture and colleagues Our people are our greatest strength and we are focused on developing them to be the best they can be. Throughout the year, we have evolved our People strategy to increase leadership and management capability, to drive high performance and to improve the employee experience. Each of these is underpinned by our ‘Inclusive by Design’ strategy which challenges us to ensure we adopt an inclusive approach to everything that we do, in turn fostering a culture that inspires motivation and engagement from our workforce. In July this year, we conducted a ‘Speak-up’ employee engagement survey and had a participation rate of 79%. We saw improved scores in Performance Management and Fulfilling Careers with employees commenting positively on our culture of continuous improvement. Based on this survey, we provide each business area with a report to enable managers to address specific needs of their teams. The Board and the Executive leadership team will ensure that we make Brooks Macdonald an even better place to work in the year ahead. Looking ahead Demographics in the form of an ageing population continue to underpin the strategic opportunity for Brooks Macdonald. With an ambitious new government in place we must hope that dis-incentivising pension savings does not become a new source of funding for the various state spending plans. The high
Read more about our corporate governance on pages 60 to 70
Read more
Maarten Slendebroek Chair
about our performance on pages 28 to 38
11 September 2024
Brooks Macdonald Group plc Annual Report and Accounts 2024
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