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Mattioli Woods snaps up London financial planner for £2.3m Deal boosts Aim-listed manager’s assets by £80m Mattioli Woods has snapped up London financial planner Montagu for £2.3m as it looks to broaden its operations in the South East. Launched in 1996 Montagu provides wealth management advice to more than 150 private and corporate clients, with about £80m of assets under advice. All four of its staffers, based in Twickenham, will transfer to Mattioli Woods following the acquisition. Mattioli said the acquisition is expected to be “earnings enhancing” within the first year. Last year Montagu generated £0.8m in revenue and profit before tax of £0.3m. ....
Mattioli Woods plc (AIM: MTW.L), the specialist wealth management and employee benefits business, today issues the following trading update in advance of its interim results for the six months ended 30 November 2020, which are to be announced on Tuesday, 9 February 2021.
· Key milestone achieved, with total client assets of the Group and its associate[1] in excess of £10 billion at the period end · Further growth in profitability, with improved margins following actions taken in response to COVID-19 and continued cost management · Gross discretionary assets under management[2] of £2.9 billion · Strong financial position, with £18 million of cash at period end · Establishment of new executive team and governance structure ....
Mattioli Woods restarts employee bonus payments after decisive action during pandemic Client assets cross £10bn threshold Ian Mattioli, CEO of Mattioli Woods Anna Fedorova Mattioli Woods has increased total client assets beyond the £10bn milestone in 2020 and has already been able to restore bonus payments to the majority of its employees, despite the difficult economic environment caused by the pandemic. In its latest trading update for the six months to the end of November 2020, the firm announced it had grown its total client assets to £10.6bn, while gross discretionary assets under management reached. To continue reading. Tel: +44 (0)1858 438 427 Register Now Investment Week helps enlightened investment professionals to grow revenues and manage risk by reading the market more astutely via this industry leading title. ....