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    We today issued our trading update for the year ended 31 May 2021. The final results for the year are expected to be announced on Wednesday, 8 September 2021.

    MW Post Author Image
    Mattioli Woods


    revenue growth expected to be 7% year on year driven by increased inflows and performance of discretionary portfolio managed services
    profits in line with management’s expectations
    significant increase in new business generation on prior year and improved lead generation of new clients
    continued to deliver uninterrupted service to clients throughout the year despite Covid-19 pandemic and successive lockdowns
    total client assets of the Group and its associate1 of £12.0 billion at the year end
    gross discretionary assets under management2 of £4.1 billion, with net inflows exceeding £480 million during the year
    recent bolt-on acquisitions performing and integrating well
    completion of £112 million fundraising to fund acquisitions of Maven Capital Partners and Ludlow Wealth Management and pipeline of smaller transactions
    strong financial position and balance sheet, with £21.9 million of cash at 31 May 2021
    post year-end completion of Maven Capital Partners acquisition
    the Company’s acquisitions expand the Group’s platform to drive organic growth and contribute meaningful progress towards the Company’s strategic goals from the current financial year onwards

    Ian Mattioli, Chief Executive, comments:

    “The Group’s profit for the year ended 31 May 2021 remains in line with management’s expectations and we continue to progress our strategic initiatives, through sustained investment in our people, technology and infrastructure, including our partnership with the Tiller Group, to develop a streamlined digital investment solution for our discretionary investment management service.

    Completion of fundraise and growth from acquisitions

    “The Group continues to grow both organically and through acquisition with notable progress being made this year following the acquisitions of the Exempt Property Unit Trust (“EPUT”) administration business of BDO Northern Ireland, Montagu Limited, Pole Arnold Financial Management and Caledonia Asset Management which further build on the Mattioli Woods’ long track record of successful acquisitions.

    “The integration of each of the recent bolt-on acquisitions remains key to the delivery of earnings enhancement and we are pleased that the integration of each business to the Group is progressing well.

    “In May 2021 we announced and subsequently completed our largest equity fundraise to date of £112 million to fund the acquisitions of Maven Capital Partners (“Maven”), which completed post year-end in June 2021, Ludlow Wealth Management Group (“Ludlow”) which remains subject to FCA approval to complete, and a pipeline of smaller transactions. These acquisitions represent significant milestones in Mattioli Woods’ journey.

    “The acquisitions of Maven and Ludlow, the largest in the Group’s history, in addition to the recently completed acquisitions represent meaningful progress towards our ambitious medium-term revenue, earnings and asset goals. These earnings enhancing transactions extend the Group’s existing investment proposition to clients and add to our distribution capacity and scale. We have a strong track record of combining businesses that share the same culture and ethos of putting clients first and the Group remains well-positioned to deliver sustainable shareholder returns.


    “We are well-positioned to progress further towards our medium-term goals. The Group is proud to mark its 30th anniversary this year and we continue to develop a business that is sustainable and here for the long term. Creating and preserving wealth, our focus remains on ensuring our trusted advice gives clients the understanding to achieve their objectives.”

    Notice of Final Results

    Mattioli Woods will be announcing its final results for the year ended 31 May 2021 on Wednesday, 8 September 2021.

    You can read the full market announcement here.

    [1] Includes £1,196.0m (2020: £515.8m) of funds under management by the Group’s associate, Amati Global Investors Limited, excluding £94.9m (2020: £54.1m) of Mattioli Woods’ client investment and £17.2m (2020: £11.5m) of cross-holdings between the TB Amati Smaller Companies Fund and the Amati AIM VCT.

    [2] Includes £1,308.1m (2020: £581.4m) of funds under management by the Group’s associate, Amati Global Investors Limited, Mattioli Woods’ client investment and cross-holdings between the TB Amati Smaller Companies Fund and Amati AIM VCT plc.