Walker Crips has increased its discretionary and advisory assets under management by 50.3 per cent to £2bn for the year to 31 March, up from £1.33bn, helped by the £4.2m acquisition of Barker Poland Asset Management in March.
Including its administered assets, total assets at the firm increased by 26.7 per cent to £3.8bn for the same period.
However, the wealth manager saw pre-tax profit falling to £400,000 from £2.5m the previous year, when the business benefited from investment disposal gains of £1.84m, but operating profit at the firm was up 14.9 per cent to £540,000 as of March 2015.
In addition to buying BPAM, the group’s first corporate acquisition in 10 years, Walker Crips has added 14 investment managers and advisers during the year, bringing the total number of employees to 120.
David Gelber, chairman, Walker Crips, says: “Trading activity in the opening weeks of the new financial year has started strongly. Despite increasing competition and significant regulatory initiatives, including MIFiD II over the next 18 months, it is our emphasis on service and integrity which will drive our public profile and competitive positioning to deliver underlying growth in the next phase of the group’s development.”