Mattioli Financial Planning reports assets up 6.5%

Advice and Financial Planning assets grew by over 6% to over £11bn at wealth manager and Financial Planner and SIPP firm Mattioli Woods for the year ending 31 May. Overall net client assets rose 2.7% to £15.3bn, according to a trading update this week. Gross discretionary assets under management fell to £4.7bn (2022: £5.1bn) with £577m of new inflows during the year offset by negative market movements. Overall revenues for the group rose 3% year-on-year, with organic revenue growth of 4% partially offset by poor market performances. New business rose 16% year-on-year due to continued momentum in new client lead generation. The wealth manager added that its implementation of the Xplan CRM and operating system is progressing as planned. Ian Mattioli MBE, chief executive of Mattioli Woods, said: "Integration of acquired businesses and realisation of revenue synergies across the group remains a key area of focus. “Recent new business development and marketing initiatives, designed to assist clients in understanding the recent changes to pension and tax rules, such as movements in annual and lifetime allowances, have both generated increased levels of new business and resulted in a strong increase of +16% in new business enquiries versus the prior year. “We expect the current macroeconomic conditions and recent legislative changes to drive continued demand for advice, and we are expanding capacity within our advisor academy, to train greater number of advisers each year as we seek to capitalise on the current advice gap and drive strong organic growth in our Financial Planning and specialist pension consultancy business. "We plan to add 20 new trainee advisers this year and expect this to double in the coming years.” He added that Mattioli has a strong pipeline of acquisition opportunities and plans to make more soon. Acquisitions in recent years include Doherty Pension & Investment Consultancy Limited, including Maven Capital Partners LLP, Ludlow Wealth Management Group Limited, Pole Arnold Financial Management Limited and Hurley Partners Limited. Mattioli Woods expects to announce its final results for the year on 12 September.

Mattioli Financial Planning reports assets up 6.5%

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