5th Jul 2016 07:41
LONDON (Alliance News) - Wealth manager and employee benefits adviser Mattioli Woods PLC on Tuesday said revenue and client assets grew in the year to the end of May and it anticipates the UK's vote to leave the European Union will increase demand for advice.
"As in previous times of change, we expect a natural increase in the demand for high-quality financial advice. Our proposition as adviser, product provider and asset manager positions us well to deal with the challenges of changing investment markets to secure better outcomes for our clients," said Chief Executive Ian Mattioli.
Mattioli Woods said revenue for the financial year to the end of May grew more than 20% year-on-year, with total client assets on its books increasing 22% to GBP6.6 billion by the end of the financial year.
Mattioli Woods added it saw a record number of new client wins in the year and said the acquisitions it made are integrating well into the business. The group said further consolidation in the self-invested personal pensions space looks likely, and it will continue to seek out further deals.
"Our focus is on ensuring we continue to address our clients' changing needs and our ambition is to see our brand become an even stronger force in the UK financial services sector," CEO Mattioli added.
Shares in Mattioli Woods were up 1.5% to 680.00 pence early Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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