W.h. Ireland Share Discussion Threads

[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 07:25

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

[panther21] 04/10/2022 08:38

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 20:47

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 07:31

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 07:46

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

[panther21] 02/9/2022 09:21

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.

[gargoyle2] 01/8/2022 10:25

48k share director buy

[panther21] 27/7/2022 10:35

Plunging profits no dividend rising costs ceo huge salary increase another year of good progress !! WHI is kidding who ?

[tomps2] 27/7/2022 07:08

FY22 results today 27.7.22, here's an overview

Rev +11%
PTP £1.4m (21: £1.5m)
AUM increased 14% £2.4bn

Video:

Podcast:

[panther21] 23/7/2022 08:07

WHI knows but where are the results ? Three weeks later than last year and no announcement. Changed chairman (again) and FD and Head of wealth this year . Ten years of underperformance - no dividend must be embarrassing to Polygon. Let’s hope someone finally understands how to stop spending.

[gargoyle2] 22/7/2022 12:50

Hey up. 60k shares bought today so far -- and not the employee trust this time, for once. Results must be soon -- and mayne that rumoured takeover is finally coming..

[gbread] 22/6/2022 10:26

The closure of the Cardiff branch has gone under the radar with the media.

[gargoyle2] 21/6/2022 11:34

Looks like the Mail a bit wide of the mark with that bid story.. I wonder who planted that..

[cwa1] 06/6/2022 11:20

Cheers, thanks ALS

[arthur_lame_stocks] 06/6/2022 10:40

Apparently there is a rumour of a takeover for £50m in the Mail at the weekend.