Mattioli Woods Acquisitions Go Over Budget | Midlands Business News

Leicester-headquartered wealth management firm Mattioli Woods said recent acquisitions fit and operate ahead of budget, with the company also surpassing the £ 15.1bn asset milestone total customers.

According to a trade update for the six months to November 30, 2021, Mattioli Woods achieved a 42% increase in total client assets from the previous period.

The company also reported revenue of £ 49.9million, up from £ 29.5million.

Managing Director Ian Mattioli said: “The first six months of this fiscal year have seen us gain momentum despite the complexities, economic and political, which have persisted through 2021.

“During the period, we proactively balanced ensuring good financial results for our clients and ensuring the long-term sustainability of our business, and I am pleased to report further significant progress towards our strategic goals. in the medium term, with total customer assets now of £ 15.1 billion. “

Regarding the performance of recent acquisitions, Mattioli added: “During the reporting period, we were pleased to announce the completion of our two largest acquisitions to date, Maven Capital Partners and Ludlow Wealth Management. Both companies are negotiating ahead of their budget and have made a positive contribution to the Group’s results, building on our track record of over 30 successful acquisitions.

“Within Maven, we are developing a number of cross-selling revenue synergy opportunities that are already shared with eligible Mattioli Woods and Maven customers, and we plan to bring new opportunities in the near future.

“Maven also paid a number of performance fees ahead of budget, which further strengthens the rationale for the acquisition. Our Ludlow team is already committed with our discretionary managed investment services, as well as achieving expected cost synergies.

“We anticipate further consolidation in the wealth management, pension administration, asset management and financial planning sectors, with many more opportunities to come into the market.”

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