Cost cutting helped Mattioli Woods maintain modest profit growth over the past 12 months in the face of market challenges.

Mattioli Woods group managing director Murray Smith is to stand down, the firm has revealed today. 

Wealth manager and SIPP firm Mattioli Woods has made 18 staff redundant from a workforce of 622 as it pushes through “operational efficiencies” following  a period of rapid expansion and acquisition.

Mattioli Woods, the wealth management and employee benefits business, has acquired Broughtons Financial Planning in a deal worth up to £4m.