Wealth manager and Financial Planner Brooks Macdonald has completed the process of moving its share listing from AIM to the London Stock Exchange main market.

It announced it would make the change last month, in a move that the chief executive Andrea Montague said would “further enhance” the group’s profile and provide more opportunities for investors to hold the company’s shares.

The shares were admitted to the main market at the LSE from 8am on 28 March. On admission, the company's issued ordinary share capital was 16,382,539 ordinary shares.

This morning (Monday 31 March) the company’s share price was 1,520p, with the market valuation of the company standing at £249m.

Ms Montague said: "As we join the main market of the London Stock Exchange, I want to thank our IFA partners and clients who have placed their trust in our incredible team to provide consistent service, strong returns, and innovation.

“The move will enhance the group's corporate profile and broaden our shareholder base. This marks the start of a new chapter, and I am excited about us making the most of the opportunities in the UK wealth market to deliver for all our stakeholders."

Brooks Macdonald has been striving to recover after being hit by net outflows in 2023 and cutting 10% of staff.

It said the cuts from its 512-strong workforce were designed to ensure it is, “set up for success, organised to deliver its strategy and drive growth.”

Andrea Montague took over as CEO on 1 October, during which time it has made several acquisitions.

In the past few months it has completed the acquisition of Chartered Financial Planners LIFT-Financial Group Limited and LIFT-Invest for £45m, Welsh Chartered Financial Planning firm CST Wealth Management for an undisclosed sum and £890m AUA Norwich-based Lucas Fettes Financial Planning.

It completed the sale of Brooks Macdonald Asset Management (International) to Canaccord Genuity Wealth last month. The firm also chose to sell its international operations following a strategic review.

Canaccord paid an initial consideration of £28m, with a further contingent sum of up to £22.85m payable in cash two years post-completion, subject to performance criteria.