Mattioli Woods makes £15m swoop for financial planning firm
Leicester-based wealth management specialist Mattioli Woods has made a £15m swoop for a Northern Ireland financial planning firm.
Mattioli Woods has bought Doherty Pension & Investment Consultancy, one of the largest financial planning and wealth management businesses in Northern Ireland.
Doherty’s currently advises approximately 1,320 private clients, including specialist pension advice on SSASs, with combined assets under advice and administration of over £635. It employs 28 people at its Belfast offices.
In the year ended 31 December 2021, Doherty’s generated revenues of £2.9m with a profit of almost £1.5m.
Michael Wright, group managing director of Mattioli Woods, said: “It is very rare that such a great opportunity to bring one of the largest financial planning businesses in Northern Ireland into the Mattioli Woods Group presents itself. In over 30 years of operations, Doherty’s has built a solid and respected reputation, with integrity and professionalism at the heart of its client service.
“It was clear from our initial discussions that Doherty’s is a great fit culturally and strategically, including a focus on long-term client relationships, serving a similar client base to our existing business. This acquisition is an important step forward for Mattioli Woods, strengthening our position as the only SSAS and SIPP operator based in Northern Ireland.
“We are delighted to welcome Terry, Alan, John and their team into the group. There are many complementary elements between our businesses enhancing our specialist pension, discretionary portfolio management and financial planning propositions. We believe the range of products and services that Mattioli Woods has to offer can support the excellent outcomes from which Doherty’s clients already benefit.”
Terry Lappin, managing director of Doherty’s, added: “We are delighted to be joining the Mattioli Woods Group as the synergy between our companies was obvious from our very first discussion. This can only improve our client offering and we are looking forward with enthusiasm to what can be achieved.”
