The Woodbrook Group is one of the world’s fastest-growing financial advisory firms, and 2018 was the year the company truly made its presence felt on the global stage.
Set up by Irishman Michael Doherty just over five years ago, the firm is about to make a public offering on the Nasdaq Stock Market as Woodbrook’s ambitious expansion plans continue apace.
Months of frenetic activity have seen the company undergo significant expansion through a series of mergers and acquisitions. The Cyprus-domiciled company is bolstering its adviser headcount to add to its existing office network in Budapest, Bucharest, Moscow, Bratislava, Marbella, Geneva, Warsaw and Ho Chi Minh City.
Plans to set up a base in Latin America are at an advanced stage, and the company is also in talks with Dubai and Dublin-based companies with a view to expanding its European and Middle Eastern operations.
The acquisition of Cyprus-based adviser Felicitas in June was the catalyst for the group’s latest expansion activity. The merger was the culmination of a seven-month process, adding £150m ($198m, €170m) in assets under Woodbrook’s management, with both firms having MiFID and insurance licences.
Behind the scenes, Doherty told IA earlier this year the company is moving all clients onto its Model Portfolio service, which has three risk baskets.
“We are a brokerage not investment manager,” Doherty said at the time. “This is our focus, putting the client at the heart of everything we do. It will take 24 months to get everyone onto the model portfolios. We believe this will enable us to deliver an even better investment proposition and service to our enlarged client base.”
Speaking ahead of the looming IPO, Doherty said his goal is for Woodbrook to be one of the top five financial brokers and corporate services companies in the world within the next decade. It’s an ambitious target, but Doherty believes he has captured the zeitgeist of emerging market trends and is confident his ability to change and adapt with the times will reap rewards.
In line with Woodbrook’s aggressive expansion, Doherty is looking to further add to his growing team of talented and highly qualified advisers.
“These are exciting times for Woodbrook. More acquisitions are on the radar and there are fantastic career opportunities here for consultants with ambitions that matches our own. I am privileged to have a great team around me for the past five years. It’s been a roller-coaster ride and I’m looking forward to taking it to another level over the coming months,” said Doherty.
Explaining the ethos behind Woodbrook’s client-centred growth strategy, Doherty paraphrased JPMorgan Chase President and CEO Jamie Dimon: “Companies that grow just for the sake of growth or expand into areas outside their core business strategy often fall, but companies that build scale for the benefit of their clients are the ones that will succeed in the long run.”
*If you are interested in joining Woodbrook Group’s expanding team, contact the company’s Head Office in Limassol on +357 25 25 8700 or email contact@woodbrookgroup.com
Woodbrook Group, regulated by CySEC also has expertise in Investment and Wealth Planning, QROPS, SIPPS, Trust and Trustee Services, Taxation, Accounting, Audit and Legal services, Company Formation and Administration, Cross-Border Structuring, Domiciliation and Corporate Services among many others.
Cyprus. Head Office Limassol. Berengaria 25, 25 Spyrou Araouzou, 6th Floor. 3036 Limassol. Cyprus Web: www.woodbrookgroup.com • Email: contact@woodbrookgroup.com • Phone: +357 25 25 8700
