Premier Wealth Posts Positive Revenues

Chris Owen

15 August 2007

Luxembourg-headquartered Premier Wealth Management, the operating brand of US-incorporated Tally-Ho Ventures, reported that total revenues more than doubled from $3.7 million to $8.4 million in the first half of 2007 compared to the same period in 2006. But after factoring a $1.2 million amortisation expense related to the purchase of a client list through a subsidiary company, the firm’s net loss was $866,181 in the first six months of 2007. Premier Wealth’s chairman and chief executive officer Nigel Gregg said: “Notwithstanding the significant non-cash charge, we continue to generate positive cash flow from our operating activities and have greatly strengthened our balance sheet through considerable debt reduction. In addition, we are proving successful in our efforts to promote awareness of the Premier brand and our expanded portfolio of financial service offerings to clients across Europe and now Asia.” Premier Wealth Management is currently trying to position itself as a preferred provider of personalised private wealth advisory and investment management services to mid- and high net worth individuals and families across Europe and the Far East. In the last year it has acquired three European financial services companies with around 22,000 clients in 50 countries. It currently has over $2.25 billion in assets under management.