Mattioli Woods income up as group commits to restricted advice

The group said wealth management revenues were £6.62m in the 12 months of 31 May, compared with £4.49m a year ago, an increase of more than 47%. Wealth management now represents a third (32.3%) of total group revenues, an increase on last year (29.2%), it said. Mattioli Woods acquired TCF Global Independent Financial Services and its subsidiary, Kudos Independent Financial Services, in a deal worth up to £8.69m in August 2011. Across the group, revenues were up 33.3% to £20.48m, with income from its core business line, SIPP and SSAS provision and administration, contributing 40%. ...