The acquisition was announced along with a deal to the parent company of Southport-based Financial Planner and wealth manager Ludlow Wealth Management in May.  

Mattioli says it expects its investment proposition and product range will be boosted by Maven, a private equity investor and alternative asset manager with 53 in its investment team. 

Maven offers investments in VCTs, private equity and property. It is an owner-led business with 12 partners and a regionally based team of 90 investment executives and support professionals.  It has 10 offices around the UK in Scotland and England. Maven invested in Mattioli Woods when it originally floated on AIM.  

Ian Mattioli MBE, CEO of Mattioli Woods, said: “We are delighted to complete the acquisition of Maven which marks a significant milestone in Mattioli Woods' journey.  The acquisition of Maven enhances our investment proposition and product range and adds opportunities to widen distribution of the enlarged Group's products and services.

“The team at Maven share our passion for delivering exceptional client outcomes and going the extra mile, and we look forward to welcoming them into the Mattioli Woods group.”

Under the deal, Mattioli has issued 4,545,455 new shares in the firm to the sellers of Maven. The sellers of Maven have entered into lock-in-agreements. Under the agreements, after 12 months they will be able to sell 25% of the shares, with an additional 25% becoming saleable in each of the three years following the first anniversary of the deal completion.