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View the article online at http://citywire.co.uk/wealth-manager/article/a757352

Mattioli Woods leads listed wealth managers – can its rise continue?

by Elsa Buchanan on Jun 19, 2014 at 15:16

‘Management appear to be on track to achieve their 25% margin target and are focused on delivering top line growth through organic inflows.’

Himsworth favours Charles Stanley, backs its management team and believes the firm’s move into the direct-to-client platform business with Charles Stanley Direct could be ‘life changing’.

Elsewhere within the listed wealth management sector, St James’s Place (SJP) continues to be widely held. Its share price surged by 73% in 2013, second only to Mattioli Woods in performance terms, and it is up 5.91% year-to-date.

Julian Chillingworth, chief investment officer at Rathbones, remains a long-term investor in SJP, and Hargreaves Lansdown, which he expects to consolidate their strong positions in the sector. Both have been beneficiaries of the retail distribution review (RDR) he said, and are well positioned to benefit from the chancellor’s pension reforms.

‘It is too early to know how the changes are going to impact on their businesses,’ he said. ‘However, I do think that in both cases the changes in RDR have now filtered through and are being a positive driver for new business for them.

‘We’ve done very well out of these, and continue to like them. Our view is that you can participate in most of these industry trends best through the larger names.’

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