Acquisitions boost Mattioli Woods profits

Mattioli Woods, the Leicester wealth management firm, has posted hikes in revenue and profit for the year ending 31 May.

Profits at the firm rose from £5.2m to £6.3m, while revenues were up 17% to £50.5m.

Ian Mattioli MBE, chief executive, said:”I am pleased to report another successful year, with revenue up 17.4% to £50.5m (2016: £43.0m). Sustained demand for advice and the continued development of our investment and asset management proposition have driven strong new business flows, which together with acquisitions completed in the current and prior financial year increased total client assets under management, administration and advice by 17.5% to £7.77bn (2016: £6.61bn) at the year end.

“Our focus remains on ensuring the Group addresses our clients’ changing needs and we continue to broaden our proposition through advice and innovative product development such as the Mattioli Woods Structured Products Fund, organically and by acquisition. We believe our capabilities as trusted adviser, administrator, product provider and asset manager allow us to deliver improved and sustainable client outcomes. I look forward to us building upon our success over the last 25 years to deliver further value for our shareholders.”