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Mattioli Woods eyes buys in cap ad aftermath
by Brian Cantwell on Feb 05, 2013 at 13:41
Sipp provider and advice firm Mattioli Woods is hoping to exploit the Financial Services Authority’s (FSA) plans for tougher capital adequacy requirements with a series of acquisitions.
The Leicester-based firm said it would target Sipp providers struggling as a result of the FSA’s plans, which would lead to a tenfold increase in capital adequacy requirements for some firms.
‘That gives us the opportunity to consolidate within the market and hopefully make some nice acquisitions that we can bolt on our existing businesses,’ said chief executive Ian Mattioli (pictured).
Last week AIM-listed Mattioli Woods announced profits of £2.5 million for the six months to the end of November 2012, a 26% increase on the previous six months.
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