British wealth manager Mattioli Woods has reported a 23.4% rise in its revenue to £16.59m for the for the six months ended 30 November 2014, compared to £13.44m in the first half of 2014.
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The company has posted pre-tax profits of £2.6m for the period, up 18.2% from £2.2m reported a year ago.
During the period, discretionary assets under management rose to £0.87bn from £0.51bn in the first half of 2014.
Total client assets under management, administration and advice reached £5.01bn at the period end, up 16.0% from £4.32bn in the year ago period.
Last week, Mattioli Woods has completed the acquisition of £83m pension administration arm of IFA consolidator Bellpenny.
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By GlobalDataMattioli Woods executive chairman Bob Woods said: "As we enter our 25th year, our business and our clients are set to benefit from the Government’s introduction of the most radical changes to pensions in almost a century, which come into effect from April 2015.
"Organic revenue growth of 19.8% on the prior period demonstrates the impact of our continued focus on developing our consultancy team, delivering advice-driven solutions supported by technical expertise. Growth and opportunity in our wealth management division remains strong.
"Further consolidation in the SIPP market appears likely, with increased regulatory capital requirements for SIPP operators coming into effect from 1 September 2016.
"The Board is pleased to recommend the payment of an increased interim dividend, up 7.7% to 3.34p per ordinary share."
