Walker Crips Group (WCG), an integrated financial services group with activities covering wealth management and investment services, has registered a 28% rise in its discretionary and advisory assets under management (AuM) at 30 June 2014 to £1.37 billion, compared with £1.07 million a year ago.
In what the company described as ‘quieter market conditions’ net group revenue increased 12.2% to £3.6 million, compared with the £3.2 million in the same quarter last year. Net fees across all activities accounted for most of this increase, rising 20%.
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Over the reporting period, the group hired a new team of seven investment managers, which it expects will contribute to revenues in future quarters.
New hires in the quarter included Steven Moss, Mark Entwistle, who joined from Barclays Wealth, and John Fletcher, who joined from Charles Stanley.
Looking ahead the group stated it maintains a strong financial position with more than £10 million in net cash on its balance sheet, which it said was an important factor in "pursuing its growth plans organically and through suitable acquisitions."
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