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View the article online at http://citywire.co.uk/wealth-manager/article/a757346

Walker Crips’ Fitzgerald: Competitors for sale are overpriced

by Elsa Buchanan on Jun 19, 2014 at 15:25

Although it is early days, he expects the business to double over the next 12 months.

Meanwhile, chief investment officer Mark Rushton says the next phase of the transformation will involve regional expansion.

‘Looking at the map, there are some opportunities in the South across to the South West, and the North West, which could be interesting,’ he said.

‘Unlike our competitors, which have been forced to close offices, we wanted to have a very controlled steady growth in terms of regional offices because one does need to keep the whole thing in proportion. We’ve already refined our regional presence.’

In December, Walker Crips expanded its regional network to 11 offices after opening in Birmingham and Swansea. It launched a new brand, Walker Cambria, to target the Welsh market.

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2 comments so far. Why not have your say?

Aries

Jun 21, 2014 at 12:57

Why did they close a sussex office which had been in existence for 30 years rather than expand it ??!!

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CoeurDeLion87

Jun 24, 2014 at 08:21

Quite why a transformation from traditional broking to 'wealth' should command a premium is beyond most. As fees come under pressure and head towards .25%/.35% (from 1%+) against rising regulatory & management costs the entire sector appears to be living on Cloud 9 aka Cuckoo Land. UK is clearly over-brokered and any growth hereon must come from newly emerged areas such as China & FE, India, Russia, Brazil and Africa.

There is scant evidence that London/UK has gained significant traction as the centre of choice for the wealth that these high GDP % areas have created.

The suggestion then is that Walker Crips itself is severely over-priced along with many competitors. £30m FuM from China is a drop in the ocean.

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