Mattioli Woods has reported revenue up 25.4 per cent to £29.35m for the year ended 31 May 2014 and unveiled plans for future growth.
Total client assets under management, administration and advice increased by 27.2 per cent to £4.63bn at the year-end.
Bob Woods, executive chairman of Mattioli Woods, said the wealth manager has strengthened it’s offering over the course of the year, with the acquisition of Atkinson Bolton and the appointment of subsidiary, Custodian Capital, as discretionary investment manager of Custodian Reit.
Mr Woods said the wealth manager’s brand has been enhanced by bringing three core businesses together under the Mattioli Woods name.
He said: “With increasing complexity and continuing consolidation in both the Sipp and other key sectors in which we operate, we are confident there will be new opportunities to expand Mattioli Woods’ operations, both organically and by acquisition.
“I believe our ability to deliver proactive advice with a growing suite of our own products and services is a powerful combination, which will keep the group well positioned to secure further profitable growth over the coming years.”
Back in April, Mattioli Woods subsidiary City Pensions Limited acquired the pension administration business of UK Wealth Management Limited, itself a wholly owned subsidiary of Ashcourt Rowan, for a total cash consideration of up to £355,000.
This sum comprised an initial consideration of £275,000, subject to adjustment for the value of working capital acquired, plus deferred consideration of up to £80,000, subject to certain revenue and client retention targets being met during the two years following completion.
