Mattioli Woods website
Sipp provider Mattioli Woods has seen its pre-tax profits increase by 26 per cent to £2.5m in the six months to 30 November 2012.
The specialist pensions consultancy and wealth management firm's revenue was up 29 per cent from £8.7m to £11.2m.
Total client assets under administration were up 13 per cent from £2.9bn in the first half of 2012 to £3.2bn.
The firm said the growth was due to recent acquisition of employee benefits firm Kudos and the launch of the discretionary portfolio management service. This service was launched in August 2012 with 12 portfolios and is offered to over 4,000 clients. The firm said it had £51.2m in assets under management by the end of the second half of 2012.
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Mattioli Woods also rebranded last year from a 'pension consultants' firm to a wealth management firm to reflect its wider wealth management remit.
Bob Woods, executive chairman of Mattioli Woods, said: "The RDR brings major structural changes to our sector, creating enormous opportunity for forward-thinking organisations. Against this backdrop, our rebranding last autumn was particularly well timed. The duality inherent in being both product provider and adviser is a strong model, which will continue to offer benefits to clients and create value for shareholders.
"We believe the Group is better positioned than ever to compete as a new style 21st century financial services business in the post-RDR world and deliver another year of growth in line with our expectations."
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