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Mattioli Woods assets soar 27% as it eyes pension opportunity
by Danielle Levy on Jul 02, 2014 at 08:52
Mattioli Woods saw assets under advice rise by 27% over the year to the end of May, hitting the £4.6 billion mark.
Revenues, meanwhile were up 25%, partially buoyed by the firm's buy of Atkinson Bolton Consulting in July of last year, in a deal worth up to £6 million. Atkinson Bolton, which has since been rebranded as Mattioli Woods, had around £420 million at the time of the deal.
Over the 12 months to the end of May, discretionary assets grew to £750 million.
Bob Woods (pictured), Mattioli Woods executive chairman, said the firm planned to invest a further £1 million in the business over the next year and backed it benefit from the dramatic pensions reforms announced in the Budget.
‘These are significant milestones, marking the next phase in our development as a 21st century financial services business,’ he said.
‘The government's intention to provide full access to pension funds from retirement has brought clarity to the issue of "ownership" and pensions have been made very much more attractive. I expect the proposed changes to be good for the group and the industry in general, with new planning opportunities already being welcomed by our clients.’
He added that strong organic growth remained the core focus, supplemented by strategic acquisitions.
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