FAQs and Client Letter
Frequently asked questions (FAQs)
correct as of 24 September 2025
The proposed transaction described is designed to minimise the level of change for clients. We have attempted to address below a number of commonly asked questions. However, if you need further information, please do ask your investment manager.
1. Why are you selling the Wealth Management business?
This is an exciting opportunity for both firms and our clients to benefit from enhancements to personalised investment propositions, operating models and research capabilities available to clients.
The cost of delivering a quality wealth management business continues to rise with inflation and this increase in scale enables us to deliver the service levels you expect at a price that is right.
The Board has been exploring strategic opportunities whilst implementing operational changes on an ongoing basis for the wealth management business following the sale of the capital markets business in July 2024. Over this period, the wealth management market has continued to consolidate, and the Company has had strategic conversations with a number of potential counterparties. In some cases, these discussions have been prolonged and extensive and have led to advanced negotiations that have not come to fruition.
In assessing the merits of the Transaction and strategy in general, the Board has concluded that it does not have the funds and resources to modernise the business, attract new teams and clients, or retain its existing major revenue generating staff, managers and directors, all of which are key components of returning the business to sustainable profitability. Oberon is authorised and regulated by the Financial Conduct Authority and its parent company is quoted on the Aquis Stock Exchange. Oberon current manages approximately £1.1bn of client funds with around 80 staff and will take on approximately £830m of client assets and around 40 staff from WH Ireland.
Oberon provides its wealth management clients with discretionary fund management, managed portfolio services and execution-only services. Oberon’s investment management services aim to provide a truly personalised service, combining an understanding of investments with a deep understanding of its clients and structuring clients’ portfolios precisely in line with their personal financial objectives and appetite for risk.
2. What does it mean for me as a client?
The profile of WH Ireland’s wealth management business is very similar to Oberon’s existing business which will remain focused on UK retail discretionary and advisory clients supported by an established compliance and operational framework.
Continuity of service is of primary importance throughout this process and we expect there to be no disruption in the provision of your service. We are retaining the same proposition, on the same terms of business, delivered by the same advisers with the same fees, costs and charges as today.
3. Do I need to do anything?
No. The transfer will happen automatically on completion of the transaction, but if you have any questions please don’t hesitate to get in touch.
4. Will my investment team or proposition change?
Your investment management and advisory team and support will remain the same as all WH Ireland are transferring to Oberon ensuring that continuity of service is the primary aim for both parties. Your portfolio will continue to be managed on the existing platform. You will retain your existing access to the App/portal and your periodic statements in the same way as you do today. These will not change in format, although the branding may be changed in time.
5. What assurance do I have about fees & charges?
We have agreed with Oberon that they will not change your fees, costs or charges for the foreseeable future.
6. What might change?
Initially, contact details will remain the same. Phone numbers and emails may change in the future, but you will be informed when they do.
If you have an ISA/JISA, Oberon will become the ISA manager covering the HMRC administration, but this will not change the way the portfolio is run. For other wrappers (eg SIPP, Offshore bond) the same providers will be retained.
7. Are my assets safe?
Yes. Your assets remain in safe custody and will continue to be managed as you have directed unless you tell us otherwise.
8. I have some concerns / questions. What should I do?
If you have concerns or questions please contact your existing investment manager who will be delighted to talk with you.
Client letter
correct as of 24 September 2025
Acquisition of WH Ireland Limited’s Wealth Management Business by Oberon Investments Limited
We are delighted to announce that WH Ireland Limited (“WHI”) and Oberon Investments Limited (“Oberon”) have executed a conditional agreement pursuant to which Oberon has agreed to acquire the wealth management business of WHI. This includes both clients and employees of WHI, including your existing Investment Manager. The acquisition was announced on 22 September 2025 and, assuming the transaction receives shareholder approval at a meeting scheduled for 9 October 2025, it is expected that, the transaction should complete on or around 31 October 2025.
The purpose of this letter is to provide further details in respect of Oberon and its group and to explain what the transaction means for you. Where relevant, it also sets out any actions that are required by you to ensure a smooth and seamless transition with the absolute minimal disruption to you and the services you receive from us.
Introduction to Oberon
Oberon is an FCA-regulated investment firm and a wholly owned subsidiary of Oberon Investment Group plc, which is listed on the Aquis Stock Exchange Growth Market. Oberon is a boutique investment management, wealth planning and corporate broking group that has grown strongly in recent years through both organic expansion and acquisitions.
Further details on Oberon can be found on the FCA’s Financial Services Register, here; Oberon Investments Limited (https://register.fca.org.uk/s/firm?id=001b000000MfF4KAAV).
The planned acquisition of WHI represents a significant step in Oberon’s growth strategy. Oberon prides itself on delivering a bespoke, client-focused service, combining traditional investment expertise with a dynamic and entrepreneurial culture. Oberon’s ethos is to build long-term relationships with clients, offer tailored solutions, and create an environment where employees can contribute to the growth of a forward-looking business. This is an exciting opportunity for WHI clients and employees to benefit from being part of a larger and stronger group.
We would like to reassure you that we do not envisage there will be any change to the team who currently service you or your terms of business once your account is with Oberon (“Terms of Business”) (including the current fee arrangements and safe custody of your investments ) as a result of the Transaction.
As with WH Ireland, Oberon also provides investment management, execution only dealing and custody services to clients. Following completion of the Transaction, the Oberon group is expected to have around 120 staff servicing approx. 6,500 clients and to oversee and advise on approx. £2 billion of client assets.
Oberon has over 30 years’ experience investing for its clients. Oberon provides its clients with discretionary fund management, managed portfolio services and execution-only services, access to tax-efficient investment solutions, special situations service, and access to IPOs and fundraising opportunities. Oberon’s investment management services aim to provide a truly personalised service, combining an understanding of investments with a deep understanding of its clients and structuring clients’ portfolios precisely in line with their personal financial objectives and appetite for risk. The transaction will on completion result in Oberon having offices in Manchester and Poole as well as its current Head Office in London and an operations office in Essex.
Impact on You
It is envisaged that the Transaction will have little impact on you. Your investments will remain safe, secure and continue to be managed by your existing Investment Manager. The only change will be that you will be a client of Oberon on the same terms and conditions as are in place with WH Ireland. The Manchester and Poole offices of WH Ireland will transfer to Oberon as part of the transaction and Oberon’s London office address is 6 Duke Street, St James’s, 2nd Floor, London, SW1Y 6BN.
Oberon will continue to manage your investments in line with FCA rules and requirements, and the same compensation schemes will be available to you. Where your investments are managed on a discretionary basis, Oberon, via your existing investment manager, will continue to ensure they remain suitable for you, that they are managed in line with your risk profile and objectives, and will provide you with ongoing financial advice and periodic reviews.
With effect from Completion, Oberon will become the data controller in respect of your personal data. A copy of Oberon’s privacy notice detailing, amongst other things, how it collects and uses personal data can be found here; (www.oberoninvestments.com/privacy-policy/).
Unless we hear from you, your investments will transfer to Oberon upon completion of the acquisition, which is expected to take place on or around 31 October 2025. There is nothing required from you to effect the transfer. If you have an ISA with us and you do not wish it to be transferred to Oberon, please provide your existing investment manager with your decision and provide a written transfer authority from an alternative ISA manager by no later than 28 October 2025. In the event that you provide us with instructions not to effect the ISA transfer to Oberon at Completion by such date, but fail to provide the necessary details for your alternative ISA manager to effect the transfer, you will lose your ISA status in respect of such assets (except in respect of a Junior ISA).
Where applicable, your investment manager will be in touch with any further paperwork that may be required.
We have enclosed with this letter a set of frequently asked questions (FAQs) which are designed to address any of the questions you may have. This letter and these FAQs are available here; www.whirelandplc.com/faqs. However, if you have any additional questions or you would like to discuss any aspect of the transaction, please contact your existing investment manager who would be happy to help.
Next Steps
Your investment manager will be in touch in due course to confirm the completion of the transaction and is looking forward to continuing to work with you.
Kind Regards
Simon Jackson, Chief Finance Officer
for and on behalf of
WH Ireland Limited