View more on these topics

UK Wealth Management posts £1.9m loss


UK Wealth Management has reported a pre-tax loss of £1.9m for 2012 compared with a £145,000 loss in 2011.

The adviser firm attributes the losses to uncertainty around acquisition prospects and increased acquisition risks as a result of the RDR.

It added the RDR had impacted its turnover which fell 5 per cent to £8.8m, down from £9.3m in the previous 12 months.

The highest paid director at the firm was paid £175,000 for the year.

UK Wealth Management chief finance officer Simon Shaw says: “Uncertainty surrounding the impact of the RDR on other firms in the sector made valuing acquisition prospects difficult and significantly increased the downside risk associated with acquisitions. 

“The board is confident of a significant improvement in financial performance in 2013.”

PMI Independent Financial Advisers director John Stewart says: “It is very difficult for acquiring firms to calculate the value of businesses because there is a lot of uncertainty around how long trail will last and that was always the basis for a firm’s value. I think this uncertainy is set to continue for a while because we are still only a few months unto the RDR and we do not know how things will pan out.”


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm