Wealth management specialist Mattioli Woods hopes to triple revenues and double assets under management in the next few years on the back of strong latest financials.
The board of the Leicester-headquartered business has announced medium-term targets of £300 million in revenues with EBITDA of £100 million, and to be managing £30 billion of client assets within a few years.
New accounts show revenues were up 73 per cent to £108.2 million for the year to May 31, including more than £46 million from recent acquisitions. Organic revenues were up 10 per cent, meanwhile.
The business said the number of clients had risen from just short of 900 to 1,084, and the total value of clients’ assets managed by the group and its associates was up almost a quarter at almost £15 billion.
Chief executive Ian Mattioli MBE said organic growth over the last five years would underpin future organic growth, while the business would continue looking for businesses to acquire.
He said: “The last financial year was another turbulent period for clients, which served to reinforce our commitment to putting clients first, developing our service offering and building a business that is sustainable and resilient over the long-term.”
He added: “We plan to maintain this positive momentum, advancing our strategic initiatives: new business generation, growth through the integration of acquisitions, developing new products and services, reviewing our processes and investing in technology to deliver an improved client experience and further operational efficiencies.
“Investment markets are likely to remain volatile for some time, although the spectre of rising inflation typically creates significant advice opportunities given our diverse revenue streams and for further investment inflows as existing and prospective clients consider appropriately investing surplus cash to avoid suffering an erosion in value of savings in real terms.
“We will continue to seek to understand our clients’ needs and provide quality solutions, maintaining our focus on client service and continuing to adapt our business model to the changing market, integrating asset management and financial planning.
“We further plan to build on our track record of successful acquisitions by continuing to assess and progress opportunities that meet our strict criteria.
“Consolidation within wealth management, asset management and SIPP administration is expected to continue for the foreseeable future, with many more opportunities coming to market.
“I sincerely thank and remain humbled by the continued professionalism, commitment, endeavour and agility that our people have shown in managing our clients’ affairs throughout another challenging year.
“The outlook for the new financial year remains positive, notwithstanding the continuing challenging macroeconomic conditions, and we continue to trade in line with expectations.
“As previously disclosed, cost inflation and progressing our strategic initiatives including investment in people and technology are expected to impact margins in the short term but will position us to secure future growth in revenue and profits.
“This will also provide opportunities to deliver future growth and sustainable shareholder returns as a business that is here for the long term.”
