Mattioli Woods and the Kingswood Group have agreed to merge, in a move which creates a single wealth management and financial planning firm with £25bn of assets under advice.
The deal remains subject to FCA approval for change in control, and is expected to complete later this year.
The firms said it marks “a significant milestone” in their shared ambition to deepen client relationships, grow their talent base and enhance their offerings.
The integration is expected to deliver greater scale, a stronger market position, and an improved client experience, the firms said.
Once combined, the firm will serve over 25,000 clients across wealth planning, investment management and client service.
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It will have a presence across the UK, with 40 offices and over 200 advisers. The firm’s Adviser Academy is also set to train 50 new advisers a year.
Ian Mattioli, CEO and founder of Mattioli Woods Group, said: “Our stated long-term ambition is to become a national wealth management firm with £60bn in assets and up to 300 advisers. Combining with Kingswood is a transformational moment and sees us accelerate our journey to achieve these goals.
“This deal brings together two highly complementary businesses with a shared commitment to putting clients first and delivering long-term value. We’ve admired Kingswood’s growth and reputation for some time. Together, we are creating a stronger, more dynamic business that is well-positioned for the future – for our clients and our people.”
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Peter Coleman, CEO of Kingswood Group, added: “The combined business will accelerate our journey towards achieving our vision of having the scale to deliver a best-in-class wealth management service to our clients. This is supported by our market leading DFM and IBOSS brands.
“I am excited to combine with Mattioli Woods, who have a strong reputation of delivering broader services including group benefits and deep expertise in specialist pensions.”
