Wealth manager buys UK advice firm for £1.6m

The company’s second acquisition in a week


Leicester-headquartered Mattioli Woods has acquired 100% of the share capital of Scotland-based Caledonia Asset Management for £1.6m ($2.2m, €1.85m).

It is for an initial consideration of £960,000 and potential further consideration of up to £640,000, dependent on achieving performance targets in two years after completion.

Founded in 2000, Caledonia provides wealth management services including financial planning, pensions and retirement planning, Isas, life assurance, critical illness, income protection and personal tax planning.

Working with around 150 private clients with over £55m of assets under advice, Caledonia is based in Edinburgh and employs an experienced team of five staff, all of whom will remain with Mattioli Woods following completion.

Ian Mattioli, chief executive of Mattioli Woods, said: “Caledonia is a great fit for us both culturally and operationally, serving a similar client base to that of our existing business. This is an important strategic step for the group, extending the geographic footprint of our wealth management business in Edinburgh.”

This is Mattioli Woods’ second deal in a week after it acquired independent financial advisory company Pole Arnold Financial Management for £7m.

Latest Stories