Walker Crips to capitalise on wealth M&A 'disenchantment'

Walker Crips is planning for further expansion by seeking out employees at rival firms who are "disenchanted" by industry merger and acquisition activity.

Reporting results for the year to 31 March, the group has announced a 12.6% rise in revenues from its investment management arm to £20.6m, a jump it said is partly due to opportunities presented by competitors' failings. The group said that M&A activity among peers has prompted such firms to grow so large that service levels had reduced. "The reduction in the quality of service caused by increase in scale through mergers and acquisitions is repeatedly being evidenced amongst our peers," Walker Crips said. "This has led to disenchantment amongst the affected advisers of competitors,...