Mattioli Woods profits rise 60% as advice demand jumps

Pre-tax profits of £7.6m

Mattioli Woods pre-tax profits increased by 60% to £7.6m in the six months ended 30 November 2023, thanks to growing demand for its wealth management and financial planning advice services.

In a stock exchange notice today (6 February), the wealth manager said the demand was driven by proposed pension and investment reforms and market conditions. Revenue over the same period climbed to £59.1m, up 8%. Meanwhile, its expanded 'MTW Adviser Academy' increased its adviser base to 148, from 132 in the first half of 2023. Gross discretionary assets under management stood at £4.6bn, with gross inflows of £326.4m, compared to £314.1m in the first half of 2023.= Mattioli Woods axes 'small number' of investment jobs as part of proposition changes It said an increase in new bu...