View the article online at http://citywire.co.uk/wealth-manager/article/a745285
WH Ireland could close offices as it launches cost cutting review
by Elsa Buchanan on Apr 08, 2014 at 07:56
‘It’s a reflection of what is going on in the industry. The bigger banks are all saying they want clients of above £3 million or £5 million. There is a finite amount of that business and we are happy to pick up the crumbs from their table.’
Share price boost
After a turbulent year, WH Ireland’s share price has almost doubled, up more than 90% over the period, which Killingbeck said reflects a recognition of the changes the business has already made.
‘Personally, I think we are undervalued, but we are a public company so it’s for the market to judge. The market is waiting to see how our interims go.’
The key focus for the company is organic growth, focusing on the three service proposals it offers; discretionary, advisory and execution-only.
‘We are having success with individuals that are wanting to join us and bringing business with them, but also the large banks in the private client space moving up their minimums and that is presenting us with opportunities,’ he added.
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