Mattioli Woods says that it intends to grow its acquisition plans, despite the disruption brought by the global pandemic and uncertainty of Brexit.
During its annual general meeting, the group’s non-executive chair, Joanne Lake, said that there are significant opportunities for the firm within the financial advisory segment.
She said the firm remains positive in its growth plans as it reported a successful year, ended 31 May 2020, in spite of the coronavirus outbreak.
She added: “We expect that uncertainty around Brexit and the impact of covid-19 will continue to influence investor and consumer sentiment in the short-term, but we are confident that our ability to address the changing needs of our clients will position us well to secure future growth, both organically and through further strategic acquisitions, in order to deliver sustainable shareholder returns.
“Current trading is in line with management’s expectations and we remain focused on client service, responsibly integrating asset management and financial planning to build upon our established reputation for delivering sound advice and consistent investment performance.”
People moves
Nathan Imlach will step down as chief financial officer after 15 years, but will remain at the group as chief strategic adviser, focusing on the firm’s future direction and acquisition pipeline.
Additionally, Ravi Tara, Michael Wright and Iain McKenzie joined Mattioli Woods’ board following regulatory approval.
The group intends to appoint other non-executive directors and is currently in discussions with potential candidates, Lake said.
“We continue to operate in an agile manner, adapting our approach with new clients,” she added. “The number of new clients on-boarded in the first four months of this new financial year is in line with the prior year, which is pleasing given the very different circumstances we are experiencing.
“Market stability has shown signs of improving, despite the ongoing political and macro-economic uncertainty, with net inflows into the group’s investment and asset management services at the same level as the equivalent period last year.”
