Share Name Share Symbol Market Type Share ISIN Share Description
European W. LSE:EWG London Ordinary Share GG00BKY4K072 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 47.50p 45.00p 50.00p 47.50p 47.50p 47.50p 0.00 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 7.7 -1.0 -0.1 - 12.77

European W. Share Discussion Threads

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DateSubjectAuthorDiscuss
28/3/2017
10:26
From Proactive; To slightly misquote the Beach Boys, it’s was all about “FUM, FUM, FUM” for wealth management firm European Wealth Group Ltd (LON:EWG) in 2016. FUM is the asset management industry’s short-hand for funds under management, and it is safe to say that “more” is regarded as “better” in this line of work, so it is just as well European Wealth Group’s (EWG) FUM is/are heading north. EWG saw funds under management (FUM) rise to £1.5bn by the end of 2016; that’s 22% higher than the £1.2bn it had at the end of 2015. Over the same period, the FTSE All Share could only muster growth of a little over 12%. Furthermore, the end-2016 number does not include the £110mln of funds coming into the group from its purchase of the Towry book of business last October. As a result of the strong organic growth coupled with the addition of CIMCO, which it bought in September 2016, EWG expects revenues for the year to be “significantly higher” than 2015 at somewhere north of £9.3mln, which would represent an increase of at least 24% on 2015’s £7.6mln. The Brexit vote, expected to put a spanner in the works if it went the way of the Brexiters – which it did – proved to be a boon rather than a curse. The second half of 2016 saw EWG maintain the momentum built up in the first half, with a strong performance from the investment management and dealing business in the aftermath of the Brexit vote. Buy and build EWG’s stated aim is to grow through targeted acquisitions and to consolidate in the investment industry in the wake of regulatory changes that changed the landscape, particularly for independent financial advisers, or 'IFAs' as they are known in the trade, who were rocked by the Retail Distribution Review (RDR). The RDR introduced new rules aiming to improve standards of financial advice and consumers' understanding of the costs involved. John Morton, EWG's chairman, said EWG, which listed on AIM in 2014 after a reverse takeover, had been established with the "post RDR world in mind". City firm Panmure Gordon is a fan of the company, saying EWG has built a "scalable platform", has good organic growth prospect and scope for further acquisitions in the UK and overseas wealth management market, which is "ripe for consolidation" following the RDR reforms. Most of the rule changes have been in the financial planning side, where the payment structure has shifted from commission to a more professional on-going fee charging model. This has meant a number of smaller IFAs and sole practitioners have been driven out of business, unable to sustain margins and that's where EWG stepped in. "Clearly there is becoming a need for there to be size (scale) to be able to make a good return on the investment of being in the industry," said Morton. "That gives us an opportunity to look at a number of acquisitions." In its February trading update, Morton said: "European Wealth continues to make selective acquisitions whilst continuing to invest in resources into the organic development of the business." Regulation, regulation, regulation If EWG has benefited from changes such as the RDR, it recently acknowledged that MiFiD II – a tighter set of industry regulations that will come into force at the start of 2018 – will create a “challenging environment” over the coming year, but it is confident that it is still well-placed for future growth. “Continuing changes within the industry, particularly those covered by MiFID II, are likely to throw up an increased number of acquisition opportunities, all of which will be carefully analysed by the board; however, the noticeable increase in the valuation of investment management and financial planning businesses has resulted in the board's focus shifting towards accelerating organic growth in the shorter term,” the group said. In an otherwise upbeat update, a slight note of caution was raised with EWG saying an increased need for working capital meant it was keeping a close eye on its cash position ahead of its loan note obligations that are due in June this year. At the end of March, EWG appeared to lay these concerns to rest by entering into a £720,000 12-month loan facility. The facility carries an interest rate of 10% over the term of the loan. The loan will be used to provide adequate working capital for the company in the near term and will ensure that the company can meet its obligations as they fall due.
kimboy2
10/2/2017
15:46
Daily chart looks interesting but the hugely onerous MIFID 2 (jan2018) and loan note will prob stifle (monthly below) - when those hurdles passed could be a bargain at the buyzone free stock charts from uk.advfn.com
luckymouse
06/7/2015
20:34
From proactive; European Wealth's (LON:EWG) plan to grow through targeted acquisitions and to consolidate in the investment industry in the wake of regulatory changes is rolling on apace as underlined by its purchase of ISM, completed last week. ISM is a City based independent financial adviser, or 'IFA' as they are known in the trade, and had sales last year of £1.1mln and will further strengthen European's financial planning business (the other arm of the group is investment management). City broker Panmure, which rates European's shares a 'buy', expects the purchase to add £1.2mln to the group's future revenues on an annualised basis and would be "materially accretive" to earnings per share (EPS), which it expects will grow to 0.8p in 2015 full year results. The broker applauds EWG, which it says, has built a "scalable platform", has good organic growth and scope for further acquisitions in the UK and overseas wealth management market, which is "ripe for consolidation" following the RDR reforms. By 'RDR', Panmure is referring to the retail distribution review three years ago, which introduced new rules aiming to improve standards of financial advice and consumers' understanding of the costs involved. John Morton, EWG's chairman, explained how this had created acquisition opportunities for the newly incarnated EWG, which listed on AIM in 2014 after a reverse takeover, as it had been established with the "post RDR world in mind". Most of the rule changes have been in the financial planning side, he said, where the payment structure has shifted from commission to a more professional on-going fee charging model, he said. This has meant a number of smaller IFAs and sole practitioners have been driven out of business, unable to sustain margins and that's where EWG stepped in. "Clearly there is becoming a need for there to be size (scale) to be able to make a good return on the investment of being in the industry," said Morton. "That gives us an opportunity to look at a number of acquisitions." A notable acquisition by the group, said Morton, was Worcester-based financial planning outfit Bradley Stewart in 2012. It meant EWG instantly took on a number of pension management schemes, complementing its financial planning side but also offered customers’ another service. A lot of Bradley's clients were also retained as they were moved from the commission world to fee-paying, said Morton. "It really gave us the backbone to then be able to acquire a company called Compass, which had the effect of really bulking up the volume going through the business and therefore giving us the sort of economies of scale we were looking for." Surrey-based Compass, which was bought last summer, had £31 million in funds under influence and in 2013 posted turnover of £434,230, of which around 76% was recurring income. It recorded a pre-tax profit in the year of £154,250. Meanwhile, in its maiden set of full-year numbers in May, European Wealth clearly showed just how such acquisitions were paying off. Funds under management (FUM) stood at £1.03bn at the end of 2014 - an impressive 59% higher than at the end of 2013. Revenues increased 16% to £6.7mln from £5.8mln in 2013, while the earnings before interest, tax, depreciation and amortisation narrowed to £203,000 from £368,000 the year before. Panmure sees revenues rising to £8.2mln in 2015 and £10.2mln in 2016, when adjusted EPS is expected to have reached 6.8p a share. Last year the firm said it was aiming to get to around £3bn in funds under management in the next three years - an aim which is "on track", said Morton, but added that the group didn't intend to make acquisitions just to attain that number. "I think it's more important to build a high quality, sustainable business," he said. The stepping stones to achieving that certainly appear to be in place, not least due to the current government changes in pensions rules and the way people can manage their own investment affairs in a much more hands-on way. "A good flow" of people are knocking on EWG's door currently, if only out of confusion, said Morton, in the wake of big pension changes - the most notable being the new ease of access and ability to take lump sums. "The whole pension world is getting turned on its head," said Morton and he reckons it will take at least six months before the "noise dies down". "It's almost creating a new way of saving and having as much effect as the introduction of ISAs and PEPs did donkey's years ago. One can't underestimate the impact," he said. All of this augurs well for a business that is unencumbered by any legacy issues and has management experienced in integrating new businesses. Lets leave Panmure the last word: "EWG has de-risked the business through its centralised investment process incorporating risk based modules that has driven consistent investment outperformance. EWG has been designed to be client centric and compliant." Panmure has a price target of 140p on the shares - pretty handsome upside considering they are now at 88.5p. It will be very interesting to see just how much the group grows – investors will hope in the same way its customers' portfolios also attract growth.
kimboy2
27/5/2015
16:48
The placing announced this afternoon is EIS qualifying, so the effective price is 56p/share for UK tax payers. I've had a nibble in the placing, so it's a three year hold for me.
timbo003
14/11/2014
17:52
The price was about 2% of AUM which about market price. The level of fees derived from the AUM is about half of the usual so plenty of scope for uplift probably.
kimboy2
14/11/2014
17:47
Quiet board here. Looks like a decent acquisition, though not exactly cheap for a loss making operation. I guess one has to trust the management that they have done a good deal. I expect another interview on Brrmedia with some more colour will be forthcoming.
stevie blunder
07/7/2014
11:44
Listen: European Wealth (EWG) - Trading update Click the link below to listen http://www.brrmedia.co.uk/event/124511/
sammy_smith
04/7/2014
12:41
Positive trading update today. FUM now £0.82b - up 24% in last six months. And - The Group is also expected to show a positive EBITDA for the first half, excluding the one-off costs of the admission http://uk.advfn.com/news/UKREG/2014/article/62802482
johnwall
25/6/2014
10:33
I think it is a good deal. If they can knock out property costs, regulatory expenses, office costs etc then the benefit will be a lot more than £150k. There is also the possibility of cross selling which should add a bit. In the end it is likely to have been bought on a p/e of around 3 or 4 which given a sector average of quoted companies of around 14 represents a good deal. The more the better IMV.
kimboy2
25/6/2014
09:10
Yes - JM does say in the RNS - "We also see significant scope for improving Compass's operating costs" The "This is Money" article you linked to above quotes a valuation metric of 2.5 - 3% AUM so this maybe doesn't look cheap on that basis but I guess it's more about strategic benefits, growing the client base and operational cost savings.
johnwall
25/6/2014
08:57
I make the acquisition about £1m and the income will be £150k plus any costs savings on top.
kimboy2
25/6/2014
08:47
Oops wrong thread again!
stevie blunder
25/6/2014
08:26
Another acquisition announced this morning, plus a placing at 90p -http://uk.advfn.com/news/UKREG/2014/article/62687268 Good to see Directors buying (even) more in the placing - http://uk.advfn.com/p.php?pid=nmona&article=62688179&symbol=L%5EEWG
johnwall
02/6/2014
14:59
A bit of news; hxxp://citywire.co.uk/new-model-adviser/european-wealth-hires-ex-barclays-portfolio-manager/a754122 Hopefully he didn't forget to bring a copy of his client list. A nice way to expand AUM.
kimboy2
13/5/2014
12:11
http://www.thisismoney.co.uk/money/investing/article-2626207/SMALL-CAP-SHARE-IDEAS-European-Wealth-taps-low-cost-financial-advice.html?ito=feeds-newsxml
kimboy2
08/5/2014
10:22
08-May-14 Daniel Stewart Buy 110.00p - 140.00p New Coverage
stevie blunder
07/5/2014
16:49
From the very end of that interview, JM states that his aim is to grow to around £3bn AUM in 3 years - about 4 times the current level. Let's hope he can do it without a four fold increase in the number of shares ;-)
johnwall
07/5/2014
10:58
video interview European Wealth Group: The time is right for AIM listing A reverse takeover by EW Group has brought European Wealth Group to the market, introducing to AIM a fast-growing wealth management business. Executive chairman John Morton explains why the time is right for the new group to join AIM. As well as comforting clients about the business, Morton says the listing will give the company better access to capital. He also talks about the company's plans for more acquisitions when the right opportunity arises. http://tinyurl.com/pknqsy7
steffyloveshares
07/5/2014
08:16
The share capital reorganisation has been completed with one Ordinary Share being issued for every 60 ordinary shares previously in issue.
andrbea
07/5/2014
08:11
Why is it up 5800%??
benjyman69
07/5/2014
07:36
Any ideas as to what prompted yesterday's excitement? A bit of Googling revealed only the following - "EW Group advanced 0.5p to 2.10p following completion of the reverse takeover of European Wealth Management, which over the last three years has grown assets under management from a standing start to £700million-plus today. Read more: http://www.thisismoney.co.uk/money/markets/article-2621849/MARKET-REPORT-Spuds-deal-The-jersey-Royal-Company-boiling-point.html#ixzz310b8mPJy
johnwall
06/5/2014
11:16
emps - ru still in here? I took some last Aug and am happy to stay with them. Best wishes f
fillipe
06/5/2014
09:56
Have these been tipped?
stevie blunder
06/5/2014
09:53
All very pleasant.
kimboy2
29/4/2014
20:06
Please note the following thread, which may be of interest: "THE REVERSE TAKEOVERS & SHELLS THREAD (RTO)" http://uk.advfn.com/cmn/fbb/thread.php3?id=31587598&from=61
hedgehog 100
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