W.h. Ireland Share Discussion Threads

[harry_david] 16/12/2022 09:31

Figures are better than competition. Broking services are definitely superior, not currently a shareholder but now on the shortlist.

[tomps2] 16/12/2022 08:16

WH Ireland (WHI) 2023 interim results overview - December 2022

WH Ireland’s CEO Phillip Wale presents a short overview of the Group’s half year results for the six months ended 30 September 2022.

Watch the video here:

Or listen to the podcast here:

[oceans4] 16/12/2022 08:11

What a disaster set of result :(On every level. Plus, no update on their website which likely means they have no marketing team left.

[gargoyle2] 16/12/2022 08:09

hxxps://www.piworld.co.uk/company-videos/wh-ireland-interim-results-december-22-piw/

[oceans4] 14/12/2022 08:14

I was thinking the same. My best guess is it's because the company has lost a number of key people over the last year. And that they were partly responsible for gathering data that feeds into accounts for results. Plus, having problems tallying this with previous results. Or the announcement is just being timed with Christmas in the hope that investors don't notice - lol.

[gargoyle2] 18/11/2022 09:58

Someone just bought £5k worth. Takeover coming? Weekend news? I live in hope..

[charo] 16/11/2022 12:37

The crushing weight of regulation ,plus the reluctance to act quickly against rogue actors by stock exchange is destroying the AIM MARKET.Confidence is low liquidity sluggish and fund manager interest minimal.A once vibrant market generating fees and commissions supporting a healthy advisory network is collapsing.
The ever increasing cost to companies trading on AIM will lead to more delisting and further retrenchment in the advisory sector.

[oceans4] 16/11/2022 12:19

Company staff are off loading their shares at any price. Agreed - The board should be sacked in its entirety. And plans put in place to sell the business / give it away. There is little value. The company now needs to focus on looking after the interests of its clients and staff. Of which many will have been with the firm for decades. The major shareholders are experienced investors and will have known what they were getting involved with (or at least should).

[panther21] 16/11/2022 11:36

They haven’t got £2.4 m under discretionary management earning fees only £1bn see their published accounts the rest is largely simply clients shareholdings ie execution only so another delusion . Time for David Ross to take charge and sack the whole board.This company has total failure written all over it . Lowest share price ever

[gargoyle2] 16/11/2022 11:17

David Ross already well down on his investment here.

[davydoo] 16/11/2022 10:59

Quite. Time to split the company up, join each with, or to make, stronger players.

[gargoyle2] 16/11/2022 09:18

£2.4 bn assets under management and a market cap of around £15m. Something doesn't seem to be working.

[oceans4] 09/11/2022 11:45

Polygon's investment in the Company is a mystery - it's not like they are inexperienced investors.  The CEO should have been sacked a long time ago.  The firm from headcount, revenue to aum is small and getting smaller and, therefore, the CEO should be doubling up as head of wealth (including financial planning) and head of corporate.  This is very doable, would reduce expenditure and ensure he is in the mix.  The costs associated with employing a separate head of wealth, head of financial planning and corporate are higher than one might imagine.  It probably equates to a small junior client facing team or back office function.  Being in the mix is really important as this will expose skill or incompetence much more quickly than the current structure.  In my view the acquisition of Harpsden the IFA business will be the undoing of this business.  Yes, it may have increased fee income over the short-term.  However, an IFA business can't operate properly within the structure of a wealth management business such as WH Ireland, there will always be friction which will restrict growth and most likely end in significant complication.  For example, it is an IFAs job to effectively act as an 'independent' consultant and recommend the best solutions for their clients and this has to be evidenced (times have changed).  WH Ireland's investment proposition isn't particularly competitive and, therefore, it would be difficult for an IFA to recommend this.  The company should have gone down the restricted route and it didn't even need to acquire a business - look within the business.  There is a huge amount of cross over between the role of investment manager and financial planner.  it could have recruited restricted financial planners from within the business rather than sack staff.  Reasonably priced organic growth that can be controlled.  Personally, I think this business should have either either adopted a restrictive model and recruited within or forgot about financial planning altogether and focused on be a great investment company.

[gargoyle2] 09/11/2022 09:52

And as for Polygon, what a shambles of an investment.

[gargoyle2] 09/11/2022 09:23

Agree. Small sellers pushing the price down -- probably employee sales. The CEO has overseen a massive destruction of value here. He always seemed to me to be a lightweight.

[oceans4] 09/11/2022 08:48

It might be linked to the employee share options that were exercised on the 4/11 and some of those must have been sold. I notice that the company has recently lost their group head of Marketing and another investment manager from their London office. I can't see how this business will survive going forward. A takeover has to be the only way.

[gargoyle2] 07/11/2022 11:22

Is that a 16k buy at 31p today? I need to sit down..

[oceans4] 06/10/2022 08:25

Not if the CEO can help it - those cheques will stop.

[panther21] 04/10/2022 09:38

Another ESOT purchase at lowest ever 29 p for future exec options wasting more cash. Mkt capn now below £20m. Must be time for someone to make a bid and put shareholders out of their misery.

[oceans4] 02/10/2022 21:47

What client facing staff? There are about three left. The corporate broking arm of the business is holding everything afloat. And it would appear there are problems here. Red flag - departure of Mr Pollock. Expenses are out of control especially when one is to consider how small the business is based on head count alone. I think the previous, previous management team tried to consolidate / outsource administrative activity to save money. But this has back fired. Current management are completely out of their depth and not capable. Why on earth would the business bring on someone from UBS to head up the wealth management side. There is very little synergy between a bank and a stockbroker (after all that is really what business is). They'd be better off, by miles, allowing someone from within the business to do this. Someone who understands the business (granted it might be a bit late for this - which is a shame). Unless, that is UBS are or have been considering an acquisition.

[panther21] 02/10/2022 08:31

Will the last to leave turn out the lights! You cannot screw the client facing staff bonuses down while the ceo takes a fat cheque when the share price is the lowest for twenty years and the company is heading for yet another loss with no dividend for ten years.For pities sake Polygon must sell on while there is any value left. The end is near.

[oceans4] 26/9/2022 08:46

I notice WHI have lost their head of financial planning, who has been with the buisness for about a year!

[panther21] 02/9/2022 10:21

Oceanwood have called time on this disaster.No dividend for ten years equity doubled by rescue rights issues and over £1m paid in so called compensation to exitting senior directors over last ten years not forgetting wasted recruitment fees and lawyers fees for compromise agreements . Total shambles should be sold to some other firm who know how to run a profitable company.Polygon have not delivered for shareholders.