Wealth and asset management consultancy Alpha Financial Markets Consulting (AFMC) is to list on the Alternative Investment Market (AIM).
The firm is scheduled to float in October and is expected to have a market capitalisation of around £150 million.
AFMC has over 250 consultants and contractors across nine major cities (London, Edinburgh, New York, Boston, Paris, Geneva, The Hague, Luxembourg and Singapore).
According to a stock exchange announcement, it has provided services to more than 200 clients, including 17 of the 20 largest global asset managers by assets under management.
At the start of 2016 the firm received an £80 million investment from private equity house Dunedin.
Chief executive Euan Fraser said the firm was listing at a 'pivotal' time in its development, as the wealth and fund management industries contend with a wide range of issues.
'Alpha has enjoyed a period of solid investment under its current ownership by Dunedin. This placing and admission to AIM will allow Alpha to retain its strong employee and growth‐oriented culture and to invest more readily in future expansion through the pay down of all existing debt facilities,' Fraser told the market.
The firm has seen revenue jump from £6.7 million in the year to March 2011 to £43.6 million in March 2017.
Although overall assets under management in the wealth and asset management industries are growing, companies are experiencing challenges stemming from regulatory changes and cost pressures, AFMC explained.
It noted that these factors are driving an increased focus by asset and wealth managers on improving systems, data quality and operational processes, in order to gain a competitive advantage, generate above average returns and reduce costs.
This in turn helped to drive the management consulting services across the spectrum of front, middle and back office functions.
With this in mind, AFMC believes it is well-positioned to grow in a market, shaped by the primary drivers of an underlying growth in assets under management, rising cost pressures, regulatory and technology change and continuing consolidation.
'Alpha has built a fabulous reputation and brand within the asset and wealth management sector. This is due to our truly outstanding team of consultants, who are passionate about delivering the very highest quality service to our clients on every single engagement,' Fraser said.
'Alpha’s success to date is thanks to the incredible hard work and dedication of the whole team. Admission to AIM will further enhance Alpha’s profile and brand recognition amongst potential clients and allow us to grow in both existing and new jurisdictions, whilst moving into additional parts of the asset and wealth management value chain.'