Mattioli Woods quadruples discretionary AUM

clock

Wealth manager Mattioli Woods has quadrupled discretionary assets under management to £750m in the year to May 2014.

It also doubled revenues from investment advice, to £3.78m. This helped to push the proportion of recurring revenues up from 54.2% to 76.9%.

The wealth management business reported a 39.4% jump in revenues, including a significant increase from the acquisition of Atkinson Bolton. Income from wealth management represented 30.6% of the group's total revenues.

As a whole, the firm recorded profit before tax of £5.1m, compared to £4.6m in 2013.

Setting out plans for growth, the group said a tougher regulatory landscape for self-invested personal pensions is likely to drive further consolidation in the pension provision market.

More generally, the Retail Distribution Review is likely to continue to encourage increasingly integrated business models, it said.

Executive chairman Bob Woods said: "We have strengthened our offering over the course of the year, with the acquisition of Atkinson Bolton and the appointment of our subsidiary, Custodian Capital, as discretionary investment manager of Custodian REIT plc.

"Our brand has been enhanced by us bringing our three core businesses together under the Mattioli Woods name and we have strengthened our board via two new appointments.

"With increasing complexity and continuing consolidation in both the SIPP and other key sectors in which we operate, we are confident there will be new opportunities to expand Mattioli Woods' operations, both organically and by acquisition."

More on Investment

Partner Content: Is the interest rate descent the time to harvest bonds?

Partner Content: Is the interest rate descent the time to harvest bonds?

Markets expect interest rates to fall this year, offering investors the strongest opportunity for fixed income seen for a long time. Watch this video podcast to learn how best to harvest this exciting opportunity.

Sarka Halas
clock 28 March 2024 • 1 min read
Partner Insight: How effective are impact investments?

Partner Insight: How effective are impact investments?

Impact investing has transformed over the past decade, giving investors the opportunity to pursue both financial returns and social and environmental outcomes.

Sarka Halas
clock 27 March 2024 • 2 min read
Partner Insight: High-yield investors should keep a close eye on the default cycle

Partner Insight: High-yield investors should keep a close eye on the default cycle

As central banks start to think about cutting interest rates, forecasts for a peak in credit default rates are not far behind — and could happen sooner than expected, says Wellington Management’s Alex King.

Sarka Halas
clock 27 March 2024 • 2 min read
Trustpilot