Leicester wealth management firm snaps up financial planner in £4m deal

Ian Mattioli

Leicester wealth management firm Mattioli Woods has bought Oldbury-based Broughtons Financial Planning in a deal worth £4m.

Broughtons was founded in 2001 and provides wealth management advice and administration for 250 individual clients with over £120m of assets under advice. Based in Oldbury in the West Midlands, the business specialises in the provision of financial planning advice. Broughtons’ management team will be retained by Mattioli Woods following the acquisition.

In the year ended 31 July 2017, Broughtons generated a profit before taxation of £620,000 on revenues of £990,000.

Ian Mattioli, chief executive officer of Mattioli Woods, said: “Broughtons has a similar culture to Mattioli Woods and holds high values with the client being at the core of all it does. The combined business gives us all opportunities to grow and develop the client offering and we welcome Gary and his team. Long term stability and sustainability is key to growing a modern financial services group and we will all continue to strive to achieve this.”

Gary Bond, Broughtons’ managing director, added: “From our initial discussions with Mattioli Woods it was clear that we shared the same values and business culture. We are all excited by the opportunity this gives us as we work to create a great financial services business and to be part of a large group which has clients at its core.”

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