The £1m sale of WH Ireland’s wealth management division to Oberon Investments looks likely to collapse, according to a recent update from the London-based firm.

Troubled wealth manager and Financial Planner WH Ireland has moved a step closer to winding up after reporting a pre-tax loss of £1.9m in its latest full year results, following a loss of £2.5m the previous year.

Troubled wealth manager WH Ireland has sold its loss-making £1bn wealth management business to Oberon Investments for £1m in cash and says it will begin winding down the business.

Troubled wealth manager WH Ireland has sold its Henley Financial Planning team to Verso Wealth Management for up to £500,000 and will close its Henley office.

Troubled wealth manager WH Ireland has trimmed losses as it tries to turn around the business, according to interim results out today.