Mattioli Woods acquires Midlands financial planning firm for £4m

£120m assets under advice

Wealth management firm Mattioli Woods has acquired Broughtons Financial Planning for a total consideration of up to £4m.

The West Midlands-based firm will add 250 clients and more than £120m assets under advice to Mattioli Woods. The Broughtons management team will be retained by the wealth manager. The acquired firm generated a pre-tax profit of £0.6m in the year ending 31 July 2017 on revenues of £0.99m. Last November, Mattioli Woods reported having client assets of £8.3bn and a revenue of £28.4m. Mattioli Woods reports 17% revenue rise following multiple acquisitions "The combined business gives us all opportunities to grow and develop the client offering and we welcome Gary and his team," said Ma...