WH Ireland has announced several board changes as it concedes the "challenging" market conditions look set to continue.
In a stock exchange announcement this morning (6 February), the group warned its next set of results would show higher one-off costs than usual as it continues with its "transformation strategy".
In a trading update since its half-year end on 30 September, the group said: "As has already been reported by a number of our peers, market conditions continue to be challenging, affecting both [UK and Isle of Man] divisions of the company.
"In addition, exceptional costs for the financial year ended 31 March 2019 are anticipated to be higher than originally expected following a number of significant one-off expenses as we continue with our transformation strategy."
The firm has been implementing a series of senior management and operational changes as it evolves from a stockbroker into a wealth management business.
Yet it claims to have a "strong" new business pipeline and remains "optimistic" for the future.
Alongside this update, WH Ireland confirmed Philip Tansey as its new finance director, subject to regulatory approval.
He joined the group as head of finance in December and will succeed former finance director Daniel Cowland, whose departure was announced in November 2018. Tansey will take a seat on the board.
Phillip Wale, chief executive of WH Ireland, said: "Philip brings a wealth of experience that will be valuable to WH Ireland as we continue on the path towards growth and profitability.
"At the same time, the board thanks Jonathan Carey for his excellent contribution to the company and wishes him well for the future."
Stephen Ford has also now landed in his role as head of wealth management. He joins from City Asset Management, having spent 16 years in senior positions at Brewin Dolphin, latterly as head of wealth and investment management.
Ford's appointment is said to reflect Wale's "intention of putting in place a leadership team to position WH Ireland for future growth."