The two managers increased their holding in the company from 2.12 million shares to 2.15 million or 16.17% worth £36.72 million at a share price of £17.01.
Brooks Macdonald has largely traded sideways since topping out at a record high of £18.09 in early March.
On a trailing price-to-earnings basis the company trades at a 6.6% premium to its peer group on a multiple of 21 times versus 19.7 times. On a price-to-book basis it sits at a 47.7% discount however, at four times versus 7.6 times.
Liontrust is a long-term shareholder in the business having bought into its initial float in 2006 at a price of £1.50. The company only really began ratcheting up their exposure in 2012, however.
Speaking to Wealth Manager at the time, Cross said: ‘[Brooks] has a very good track record of organising growth and everything I hear about the way the run their offices is very strong.’
‘It deals with customer relationships in a very good way, a strong brand and is rolling out its network. It has been a very profitable investment for us.'