WH Ireland’s private wealth management unit had assets under management (AuM) of £2.7bn at the end of November 2014, an increase of 8.4% compared with £2.5bn a year ago.
The unit’s fee income was up 25.6% from £3.9m to £4.9m, while commission income increased by 1.8% to £11.3m from £11.1m a year ago.
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Discretionary assets under management increased to 42.7% to £0.7bn from £0.5bn in 2013, while advisory assets rose to £0.95bn to £0.93bn.
Overall, the group has reported a pretax profit of £0.5m for the year, down 70% from £1.7m in the prior year. The Group’s revenue increased to £30m from £29.7m in the year ago period.
The group said its adjusted operating profit, which strips out one-off charges, rose to £1.45m from £0.9m in the prior year.
WH Ireland CEO Richard Killingbeck said: "This year of transition has resulted in some "one-off" charges and by their very definition will not be repeated. Adjusting for these "one-off" charges operating profitability would have increased over the figures reported last year.
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By GlobalData"In the Corporate Broking division the focus will remain on the continued growth in the number of corporate clients and the successful execution of corporate transactions whilst the Private Wealth Management division will continue to focus upon the growth of fee paying discretionary and advisory assets," he added.
