Leicester wealth management firm in £4m swoop for Belfast counterpart

Mattioli Woods, the Leicester-based wealth management firm, has swooped for Belfast pension advisory firm SSAS Solutions (UK) in a deal worth just over £4m.

SSAS Solutions was established in 2009 and employs 12 staff. The firm’s management team will be retained by Mattioli Woods following the deal.

In the year ended 31 March 2018, SSAS Solutions generated a profit before tax of£610,000 on revenues of just over £1m.

Ian Mattioli, chief executive of Mattioli Woods, said: “This acquisition is an important step forward for Mattioli Woods, as we continue to expand our operations. SSAS Solutions is a great fit culturally and strategically, serving a similar client base to our existing business. The transaction gives us an exciting new distribution channel for Mattioli Woods’ services, with the opportunity to enhance the existing client offering to include Self-invested Personal Pensions. I believe extending our geographic footprint strengthens our position, making the Group the only SSAS and SIPP operator based in Northern Ireland.

Allison Chambers and Michael Galway, SSAS Solutions’ directors, added: “We are delighted to be part of the Mattioli Woods group and see this as the next exciting phase for SSAS Solutions in our role of providing entrepreneurial pension solutions for our clients. Being part of the Mattioli Woods group provides us with additional resource and support to enable the business to grow whilst still maintaining our strong client values, which mirror those of Mattioli Woods.”