The group, which recently rebranded its Merrion Stockbrokers business as Merrion Private, wrote late last year to clients who fell below the threshold, telling them that they had a choice of converting to an execution-only service or investing their money in its global equity income fund, which invests in up to 40 companies that focus on dividends.

Clients were also given the option of transferring their investments to another brokerage or selling their holdings and closing their accounts. Those who did not respond with a decision before Christmas were automatically moved to an execution-only service where Merrion will carry out the orders of customers but will not provide any investment advice, according to a letter to affected clients, seen by The Irish Times.

The cut-off point for advisory and wealth management clients comes as stockbroking firms grapple with rising regulatory and compliance costs. However, firms often avoid imposing the minimum threshold in certain circumstances.

Merrion Capital was formed in and has gone through three changes of control since then, including a short-lived stint under the ownership of Icelandic lender Landsbanki before the financial crisis as well as a management buyout in Data Privacy Tech Tools Work Businessperson Awards Commercial Property Construction Comment Columnists Innovation Specials Panama Papers Entrepreneur of the Year AIB Start-up Academy Podcasts Business Podcast Partner Sites Top By using this website, you consent to our use of cookies.

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Merrion: Tysabri sale might be best for Elan | Irish Examiner

Pat O Neill Merrion Capital IFSC. Real news has value.

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