Mattioli Woods acquires advice firm for £8.3m

Wealth manager Mattioli Woods has bought advice firm Taylor Patterson for £8.3m, adding a further £640m to its £5.4bn of client assets.

The adviser will retain Taylor Patterson's management team following the acquisition. The Preston-based financial planning firm was founded in 1979 and provides wealth management and employee benefits services to personal and corporate clients. It also administers small self administered schemes and self-invested personal pensions as part of its wealth management offering, which will be transferred onto Mattioli Woods' pension platform. The group currently employs 38 staff. In the year ended 31 July, Taylor Patterson generated a pre-tax profit of £900m on revenues of £3.2m and had ...