Mattioli Woods assets top £4bn following acquisitions

Mattioli Woods, the pension consultant and wealth manager, has reported increased pre-tax profits of £5.56m, up 9.9%, for the year ended 31 May.

Its final results said profits before tax were up from £5.06m in 2012. The firm said revenue was up 14% to £23.41m. It stove at £20.48m in 2012. it said it was in a "strong financial position" with £8.05m of net cash. Total client assets were up just over 20% to £3.64bn to the year ending 31 May, compared to just over £3bn in the previous financial year. The results also highlighted the business was appointed to operate The Pilgrim SIPP in June 2012, it launched a discretionary portfolio management service in August last year and acquired Ashcourt Rowan's pension business in April...