Mattioli Woods made £46.1m through its acquired businesses in the year ended 31 May 22.
In its latest annual report, the wealth management group said the total client assets of the group and its associate rose 23.1% to £14.9bn (2021: £12.1bn) at year end.
Meanwhile, revenue increased 72.8% to £108.2m (2021: £62.6m) and strong organic revenue growth was up 10.0% to £62.2m (2021: £56.6m).
The business won 1,084 new clients (2021: 898), which it said represents investment in business development initiatives.
Mattoli Woods’ strategic goals are to grow group’s operations towards £300m of revenues, £30bn of total client assets and £100m of EBITDA.
Chief executive Ian Mattioli said he wanted the company to maintain its “positive momentum”.
He also said he wanted it to advance its strategic initiatives of new business generation and growth through the integration of acquisitions.
Finally, Mattioli wants the firm to develop new products and services, review its processes and invest in technology to improve the client’s experience and ensure 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.”
He added that Mattioli Woods wants to build on its “track record of successful acquisitions”, by continuing to assess and progress opportunities that meet its “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,” said Mattioli.
“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”.
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