Mattioli Woods sees strong increase in revenue and assets

Sipp provider Mattioli Woods has seen its revenue increase by 33 per cent to £20.5m, up from £15.4m in 2011. Assets under administration were up 31 per cent from £2.3bn to £3bn. Some £0.53bn of assets came from the firm's acquisition of financial services firm Kudos.It also announced a 12 per cent increase in total dividend for the year to 5.55 pence per share.Earlier this month Mattioli Woods launched its new discretionary portfolio management service for clients which consists of 12 risk-adjusted portfolios.Bob Woods, executive chairman of Mattioli Woods, said: "Increasingly, we are both provider and adviser, a forward-looking and innovative approach designed to better meet clients' needs."I anticipate the current economic environment will drive investors to focus on seeking out best value and I am excited about the launch earlier this month of our new discretionary portfolio management service, which offers a more cost-effective and efficient investment process for our clients and enhanced recurring revenue streams for ourselves."He said he believe the firm was well positioned to compete post-RDR and would continue to invest to secure profitable growth."I believe the Group is now better-positioned than ever to compete in the post-RDR world and we will continue investing in the business to secure further profitable growth, underpinned by strong recurring revenue." • Want to receive a free weekly summary of the best news stories from our website? Just go to home page and submit your name and email address. If you are already logged in you will need to log out to see the e-newsletter sign up. You can then log in again.

Mattioli Woods sees strong increase in revenue and assets

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