Business

Financial firm Metis Ireland eyes expansion over next two years

Limerick-based company aims to double €365m in funds under management

Metis Ireland managing director Carl Widger, director of private clients Paddy Andrews and chairman Tom Tierney.

Ellen O’Regan
Mon Apr 1 2024 - 05:45

Limerick-headquartered financial planning firm Metis Ireland is set to grow its workforce by 50 per cent as it plans to double the €365 million in funds it already manages within two years.

First established in Limerick in 2014, Metis Ireland provides financial planning and wealth management services to individuals, business owners and families.

The company has €365 million for more than 1,000 clients and saw turnover increase by 26 per cent in 2022 to €1.97 million, with an operating profit of €89,250.

Metis employs a team of more than 20 and has said it plans to create up to 10 additional roles to meet its expansion plans over the next two years.

READ MORE

Metis employee and former Dublin GAA football star Paddy Andrews has been appointed as director of private clients in the firm’s Dublin office, where it is targeting most of its expansion.

“In terms of the assets we manage, that’s pretty good over the course of 10 years to get that [€365 million], and we’re ambitious enough to try to build that rapidly over the next couple of years,” said Mr Andrews.

He added that the firm is recruiting mainly in Dublin and across all levels of the business, having recently expanded its back office client services team, and is now seeking financial planners and private client managers.

In Profile: Barry Napier, Irish Times Business Person of the Year 2023

Listen | 47:29

The staff and board of Metis completed a buyout of 50 per cent shareholder Davy last year, taking control of the business.

Mr Andrews said that Metis is aiming to compete with larger players in the Dublin market by offering a more bespoke service. “It’s a really competitive industry, there’s established banks and wealth managers here,” he said.

“We’re not trying to manage 1,000 different people in a group scheme, it’s very bespoke, that takes more time obviously. You need to get to know the clients and what they’re looking to do, but that’s the benefit of being agile as an SME that you can facilitate that bespoke service.”

In terms of what experience he brings to his new role as a seven-time All-Ireland winner with Dublin’s football team, Mr Andrews said that skills learned on the pitch only take you so far in the world of finance.

“I think you learn a lot about team environments, structure and discipline and hard bloody work as well, but ultimately when it comes to managing families’ assets and wealth, you need to know what you’re at. Winning All-Irelands is great but I would have done all my professional exams when I was in Davy as a certified financial planner ... and an MBA a couple of months after I retired with a view to business strategy and managing teams, so I’m glad I have that background as well,” he said.

Ellen O'Regan

Ellen O’Regan

Ellen O’Regan is an Irish Times journalist.

LATEST STORIES