Mattioli Woods in £2.3m swoop for south-east firm

Leicester wealth management firm Mattioli Woods has acquired Twickenham-based counterpart Montagu in a deal worth £2.3m.

Montagu was established in 1996 and provides wealth management advice and administration for over 150 private and corporate clients with approximately £80m of assets under advice. It employs four staff – all of whom will stay with Mattioli Woods.

In the year ended 31 July 2020, Montagu turned over £770,000 with a profit before tax of £310,000.

Ian Mattioli, chief executive officer of Mattioli Woods, said: “Our discussions have confirmed the strong cultural fit and our common approach to looking after clients, and we are very pleased that Chris and his team are joining Mattioli Woods.”

Chris Simpkin, Montagu’s managing director, added: We are delighted to become part of the Mattioli Woods Group; one of the UK’s top financial services companies. Our clients and staff will continue to benefit from our combined strong ethos and culture.

“Moving forward, the additional resources and support of being part of the Mattioli Woods Group will help us continue to provide our clients with the highest level of service that they have come to expect.

“We look forward to what the future will bring and sharing this with our clients”.