Wealth management firm Mattioli Woods is to launch its Total Wealth consolidation service at the end of this year following a successful pilot run.
The firm has been piloting the service among a group of 30 staff and is preparing for a live roll out to clients at the end of 2018.
The consolidation portal will allow Mattioli Woods' clients to view all of their wealth assets on one platform including their investments, pension pots, property assets and bank accounts.
Mark Smith, chief operating officer, said: "It’s important that our clients begin to think about their assets and investments.
"The service allows clients to consolidate all of their assets in one place and this allows them to make investment decisions from a more informed position.
"We have already begun trialling the service across a small group of our employees and we have already had some good feedback and have seen the benefits of the service. We hope that everyone who is a client of Mattioli Woods will be using the service eventually."
Earlier this month (4 September) FTAdviser reported that the provider was eyeing up stockbrokers and investment houses as part of its acquisition strategy.
The firm has said it was looking to acquire businesses from different markets to complement its existing services with a specific focus on discretionary investments.
Recently, the firm announced it had pulled out of the defined benefit market completely and would stop advising on DB transfers, following an internal review.
"Mattioli Woods’ announcement doesn't appear that revolutionary," said Scott Gallacher, financial planner at Rowley Turton.
"Perhaps if it offers a greater degree of integration and automatic valuation updates from third parties it might be relatively new.
"That said, our clients like the ability to view everything in one place via our Client Portal system; so I would imagine Mattioli Woods’ version would be popular with their clients
"They state that [the portal] will also include bank accounts, which is helpful but again many advisers can offer a similar facility via Moneyhub."
Mattioli Woods will be looking for feedback on the Total Wealth service, prior to a market launch at the end of the year.
rosie.quigley@ft.com
