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Mattioli Woods predicts £500m in internal discretionary growth

Mattioli Woods predicts £500m in internal discretionary growth

Mattioli Woods hopes to convert another £400 million to £500 million in advised assets held within its historic subsidiaries onto its discretionary platform.

Bob Woods, the company’s executive chair, pointed out that its organic, internal rate of growth was running at a rate of ‘two to three acquisitions’ a year as it contacts its own client base.

Playing down the significance of one-off acquisitions, he added that average per-client assets run or advised upon by the group have increased from £170,000 to £300,000 over the last 12 months.

The company launched its discretionary business in the middle of 2012 beneath former Wealth Manager coverstar Murray Smith (pictured). Over the last year assets held within the service have grown from £50 million to £510 million, primarily driven by internal transfers.

‘There is an enormous demand for this among our clients,’ added Nathan Imlach, finance director and company secretary.  

The two men were speaking after an interim market update in which the company reported revenue up 19.4% to £13.44 million and earnings per share 16.5% to 13.12p and lifted its dividend 33% to 310p per share.

At 10.00am, shares in the business were up 3.76% at 412p.

Recurring revenues rose 19.4% to £11.26 million or 79.6% of total revenues, compared to 64.4% in the same period of last year. Overall assets under influence rose 33.3% to £4.32 billion.

Mattioli Woods has unveiled plans to exploit a revering UK property market with its own in-house Real Estate Investment Trust (Reit).

The fund will be managed by its subsidiary Custodian Capital and is expected to launch within the next few months, buying out an initial portfolio of client-held property.

‘We expect the Reit will enter into arrangements to acquire an initial seed portfolio of circa £100 million from our clients' existing syndicates, conditional upon approval of the existing investors and admission to trading,’ the company said in a statement. 

‘The Reit is also proposing to raise gross proceeds of up to £50m to invest in a diversified portfolio of commercial property in the UK.’

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