W.h. Ireland Share Discussion Threads

[gargoyle2] 09/3/2023 10:27

2020? The article is dated 7 March 2023? It just came up on my Google alert

[harry_david] 09/3/2023 09:22

I use the London office, service first class.

[chrisdgb] 09/3/2023 09:06

That was 2020......

[gargoyle2] 09/3/2023 08:54

I don't really understand your question. I'm just pointing out that WHI is closing its IoM office. Presumably if you are a WHI IoM client , then you will get transferred to Ravenscroft.

[harry_david] 08/3/2023 23:14

Gargoyle I don't understand, what is the relevance of Ravenscroft buying an IoM business to Irelands. Irrelevant I know but I use them occasionally as a broker and have found them very good especially on small caps.

[gargoyle2] 08/3/2023 12:26

And more folks leaving: www.portfolio-adviser.com/wh-ireland-investment-manager-leaves-for-atomos/

[gargoyle2] 08/3/2023 12:25

Isle of Man business sold off (£300m under management):

www.captiveinternational.com/news/channel-islands-investment-group-ravenscroft-buys-isle-of-man-business-5820

[oceans4] 10/2/2023 18:36

It's a mystery. They must enjoy losing money. I could think of a million more enjoyable ways to lose it.

[gargoyle2] 10/2/2023 15:47

Phillip Wale became CEO here in August 2018, at which point the share price was around the 120p mark. Today, less than 5 years later, it's 20p, an almost 85% destruction of value. What the hell is he still doing in his job? And what are Polygon playing at? Useless.

[oceans4] 10/2/2023 07:40

My view is that it's either now or never for a takeover. If someone was to aquire the firm today then there is a chance clients can be retained and some value remain within WM. It's the Company's best chance. They don't have the resources, experience or proposition to defend the client base without help.

[oceans4] 10/2/2023 07:22

Thanks for sharing. I didn't realise Paul Sheehan has also left. He was key to the Company's AIM portfolio service and I imagine a key member of their stock selection committee. The investment managers leaving all have 15 years plus time spent at WH Ireland and prior to that more time spent with the same clients at other stockbroking type firms. The current management probably have collectively 3 years plus time spent at WH Ireland, no time spent with clients and zero stockbroking experience. It's all banking experience, hence the 'one strategy fits all' approach. I don't think Company will be able to retain the clients.

[gargoyle2] 09/2/2023 19:11

Confirmation of a couple of departures from WM

www.portfolio-adviser.com/wh-ireland-manager-exits-for-silverwood-wealth-management/
www.investmentweek.co.uk/news/4073950/paul-sheehan-joins-oberon-investments

“Many firms are compromising and adjusting their business models to manage an ever-increasing number of portfolios to the detriment of client relationships and service. Our goal is to do this differently, focusing squarely on building enduring relationships with clients and families.”

It seems that WH WM is moving away from the touchy feely approach to wealth management.

[creativevision] 17/1/2023 16:26

Yes you’re right about PE backed businesses buying up wealth managers but I can’t see Polygon letting this go for less than they paid for it. Wasn’t their in price in the region of 55p? Can’t see a bid at over 100% premium to current price. Of course we might see a simultaneous MBO of the capital markets arm, that gives Polygon a net neutral return. Can’t see who would finance management though.

[davydoo] 17/1/2023 14:00

Lots of PE backed financial advice consolidators buying up firms in the £1-£10m space almost daily.

A lot of work would be required to buy, separate and consolidate this business, but it's got to be worth it for someone trying to get to the oft quoted £10bn scale

[gargoyle2] 17/1/2023 13:57

Bit of share price action today. Is that bid finally coming?

[gargoyle2] 20/12/2022 19:41

Agree, he looked pretty downbeat compared to previous vids that he's done. I've never rated him, but who else is a microcap company like this going to get? Sell off the capital markets arm and have a bigger fund manager take over the rump imo. The brand name and the company's history need to be saved before the current management drive it into the ground imo.

[oceans4] 20/12/2022 17:27

Unfortunately, there's a high possibility. I don't think there's going to be a takeover anytime soon as no larger shareholder would be selling if this was a possibility. And raising capital won't help at this stage unless management is restructured in its entirety. Phillip Wale looked absolutely knackered on the results video and that pretty much sums up the company.

[gargoyle2] 20/12/2022 16:29

Melvin averaging down. Reckon we'll see some corporate action here before too long.

[gargoyle2] 17/12/2022 17:11

ESOT scheme only permitted to buy 50k shares a month, if I remember correctly. David Ross avaraging down, I hope!

[oceans4] 17/12/2022 08:13

Very likely and the shares sold matches. Maybe the WHI ESOT scheme has purchased them.

[gargoyle2] 16/12/2022 20:23

I reckon that could be M&G exiting finally. A disaster investment for them. More interesting might be who has bought them.

[oceans4] 16/12/2022 16:52

It's because these result are not good at all. There are so many warning signs if one digs a little. I think I'm just going to cut my losses on this one.

[creativevision] 16/12/2022 16:49

Someone just offloaded nearly £1m worth of stock at 16p ...