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IFG Group managing £30.5bn in assets in Q1

IFG, which mainly focuses on the UK market, saw client growth of 3.3% at one of its two British divisions, James Hay
IFG, which mainly focuses on the UK market, saw client growth of 3.3% at one of its two British divisions, James Hay

Dublin-based financial services firm IFG Group said it had £30.5 billion worth of assets under administration at the end of March.

That represents a fall of €100m from the year-end figure but is 8.9% higher at the end of the first quarter in 2017.

IFG, which mainly focuses on the UK market, saw client growth of 3.3% at one of its two British divisions, James Hay.

James Hay now manages 59,000 clients.

IFG's other UK division, Saunderson House, grew its client base by 9.8% year-on-year to the end of the first quarter and now serves over 2,200 clients.

IFG recently overhauled its senior management team, with a new CEO, chairman and chief financial officer appointed.

Today the firm said that team is conducting a review of the group, which will result in higher costs in 2018.

New CEO Kathryn Purves said both UK divisions are performing well.