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Advice and investment acquisitions help drive Mattioli profits up

Choosing the key to successMattioli Woods has said that the acquisition of financial planning firms and boutique investment managers to its business has helped drive up profits.

The firm traditionally known for its Sipp offering acquired West Midlands advice firm Broughtons Financial Planning earlier this year and Amati Global Investors in 2017.

In results for the year ended 31 May 2018, released this morning, Mattioli says its profit growth accounts for both the acquisition of Broughtons and an increase in funds under management at Amati to over £350m.

Mattioli Woods chairwoman Joanne Lake says there may be further deals on the horizon, and that a complex political environment would see more people seeking advice.

She says: “Although there is some caution around markets, we believe [we are] well placed to continue to grow, both organically and by acquisition. Many commentators predict that next week’s Budget will include changes to pension tax relief and we expect further changes in pension legislation, fresh speculation around the shape of Brexit and any further volatility in markets to drive a sustained demand for advice.”

Fifty-eight per cent of Mattioli’s fees are fixed, initial or time-based, the firm says, and 42 per cent cent ad valorem fees based on the value of assets under management, advice and administration.  

Lake says: “The inherent flex within our business model will allow us to adapt to meet the needs of our clients in what remains a changing marketplace, with a key part of our strategy being to lower the cost of the services we provide while growing a long-term sustainable business.”


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