Mattioli Woods reports bumper revenues

Mattioli Woods reports bumper revenues

Specialist wealth management and employee benefits firm Mattioli Woods has achieved a ‘significant milestone’ with annual revenues passing £50m.

The company attributed its success to a strong flow of organic new business and reducing client costs while maintaining the target profit margin. 

The company’s strong performance has seen gross discretionary assets under management rise to over £1.6bn, with a net cash balance of £23m.

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Clients now invest more than £100m in Mattioli Woods Structured Products fund, according to the company.

So far this year the company has purchased 49 per cent of Amati Global Investors, which has total assets under management of £165m.

Ian Mattioli, chief executive of Mattioli Woods, said acquisitions continue to be a core part of the firm's growth strategy.

In September 2016 the company announced the acquisition of MC Trustees, which Mr Mattioli said was "an excellent fit with our existing pension business and has contributed positively to the Group's trading result for the year".  

“We believe further consolidation within our core markets remains likely and our strong balance sheet gives us the flexibility to make further value-enhancing acquisitions,” he added. 

Commenting on the group’s successes over the past 12 months and prospects for the coming year, Mr Mattioli said: “We have enjoyed strong organic growth, winning over 1,200 new wealth management cases during the year, comprising Sipp, Ssas and personal clients.

"In addition, over 100 new corporate clients were attracted to the group's broader range of employee benefits services during the year. 

"We continue to see strong demand for advice from clients, driven by lifestyle, increasing longevity, tax and other legislative changes, including the pension freedoms that introduced a major shift in how people can access their pensions.

"I believe Mattioli Woods' capabilities as adviser, provider and asset manager will allow us to better address our clients' changing needs and to deliver further improvements in client outcomes going forward.”

Mattioli Woods’ trading update comes ahead of the release of its final results for the year to 31 May 2017, which will be made available on 5 September.