Aim adviser Evolution Group says its second half trading is weaker than the first half and full year profits will be minimal.
The company’s strong balance sheet will help it ride out these tough trading conditions.
Evolution Securities is the main business and it has a 70% stake in Asian adviser Evolution Securities China. Williams de Broe is a private client wealth management business.
Secondary market trading is more resilient than the broking and corporate finance operations.
Costs are being cut except in the wealth management subsidiary Williams de Broe, which has acquired the investment management team of Singer & Friedlander. A new office has been opened in Edinburgh. New client wins have helped offset lower management fees in the wealth management side.
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