Acquisitive approach pays off for Mattioli Woods
Mattioli Woods has seen its revenue surge by 72.8%, the company has announced.
In its audited results for the year ended 31 May the Leicester-headquartered wealth management group posted revenues of £108.2m – up from £62.6m in 2021 – with £46.1m of the total resulting from recent acquisitions.
The firm, whose adjusted EBITDA has increased by 88.4% to £32.6m, says its overall financial position is “strong”, with £53.9m of cash in its coffers at the period end.
The company cited its acquisition of Ferguson Financial Management in May as a key driver behind its performance, as well as its continued investment in technology, compliance and training.
In a statement to the London Stock Exchange this morning (13 September), the firm said it will now look to break through the £300m revenue barrier by building on its track record of acquisitions.
CEO Ian Mattioli MBE said: “The last financial year was another turbulent period for clients, which served to reinforce our commitment to putting clients first, developing our service offering and building a business that is sustainable and resilient over the long-term.
“We plan to maintain this positive momentum, advancing our strategic initiatives: new business generation, growth through the integration of acquisitions, developing new products and services, reviewing our processes and investing in technology to deliver an improved client experience and further operational efficiencies.
“Investment markets are likely to remain volatile for some time, although the spectre of rising inflation typically creates significant advice opportunities given our diverse revenue streams and for further investment inflows as existing and prospective clients consider appropriately investing surplus cash to avoid suffering an erosion in value of savings in real terms.
“We will continue to seek to understand our clients’ needs and provide quality solutions, maintaining our focus on client service and continuing to adapt our business model to the changing market, integrating asset management and financial planning.
“We further plan to build on our track record of successful acquisitions by continuing to assess and progress opportunities that meet our strict criteria. Consolidation within wealth management, asset management and SIPP administration is expected to continue for the foreseeable future, with many more opportunities coming to market.”
Mattioli added: “I sincerely thank and remain humbled by the continued professionalism, commitment, endeavour and agility that our people have shown in managing our clients’ affairs throughout another challenging year.
“The outlook for the new financial year remains positive, notwithstanding the continuing challenging macroeconomic conditions, and we continue to trade in line with expectations. As previously disclosed, cost inflation and progressing our strategic initiatives including investment in people and technology are expected to impact margins in the short term but will position us to secure future growth in revenue and profits. This will also provide opportunities to deliver future growth and sustainable shareholder returns as a business that is here for the long term.”
