Private wealth management through regional stock exchanges?

Private wealth management may become easier to conduct locally, if proposals for the creation of regional stock exchanges in business centres such as Manchester are carried forward.

Corporate banking services could also become more accessible for companies if the plans - aiming to help small and medium enterprises attract capital - come to fruition.

Business secretary Vince Cable outlined the initiative yesterday (July 26th), which also aims to encourage banks to lend to the commercial ventures.

The wealth management specialist commented: "There are an awful lot of successful medium-sized businesses that can’t even get into the London Stock Exchange because it is very expensive to list."

He observed it is also difficult for companies to join Aim, which is designed for smaller and emerging companies to gain entry to the share market.

Manchester Confidential reports the number of listed groups in the city has fallen in the past two years and the plans could help to encourage business growth and development in the northern hub.ADNFCR-2318-ID-19908887-ADNFCR