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WH Ireland finance director steps down as wealth manager focuses on DFM business

Wealth Manager WH Ireland has said it will continue to focus on gaining more discretionary assets under management in interim results this morning that also reveal finance director Daniel Cowland has resigned from the firm.

The advice and investment management business says that discretionary assets under management have increased 8 per cent since the start of the financial year, and now make up nearly 44 per cent of its total funds.

Fee income from services like advice fees and private wealth management is now more than half the firm’s monthly revenue and is running at £1.3m a month, the firm says, while M&G has also joined its ranks of key shareholders.

Chief executive Phillip Wale says: “We will continue to look to increase the proportion of discretionary assets under management and attract high quality teams into the business in order to take advantage of the scalable platform which we now have in place.”

Wale only joined the firm as chief executive elect in August, with the FCA approving the appointment last month.

Alongside the results this morning, the firm said that finance director Daniel Cowland had tendered his resignation as a director of the Company, with effect from no later than 30 April 2019, and an interim would be appointed from early December to help with a transition.

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