SIPP and Monetary Planning agency Mattioli Woods has reported pre-tax earnings leapt 60% to £7.6m within the six months ended 30 November 2023.
The London-listed agency mentioned at this time that income over the identical interval climbed to £59.1m, up 8%.
It mentioned a rise in new enterprise led to natural development of 4%, which was partly offset by the market affect on advert valorem charges of a 0.4% discount in whole consumer belongings.
Income for the six months was break up between 37% mounted, preliminary or time-based charges and 63% advert valorem charges based mostly on the worth of belongings beneath administration, recommendation and administration.
The corporate reported elevated demand for wealth administration and Monetary Planning recommendation pushed by proposed pension and funding reforms and market situations.
Ian Mattioli, chief govt, mentioned: “The primary six months of this monetary 12 months noticed the group ship improved natural development regardless of the advanced macroeconomic backdrop that endured all through the interval.
“Our precedence stays the supply of worthwhile natural development and we’re happy to report additional progress in the direction of our medium-term strategic targets.”
He mentioned the improved natural development resulted from a mix of purchasers’ demand for recommendation and proactive communication by advisers, with a 13% enhance within the worth of latest purchasers within the first half versus the equal interval final 12 months.
The corporate introduced an interim dividend of 9p per share, up 2.3%.
Trying forward, Mr Mattioli mentioned: “Our buying and selling outlook for the 12 months stays according to administration’s expectations and we imagine the group stays well-positioned to make the most of the expansion alternatives within the UK wealth market and ship sustainable returns for our stakeholders.”
The acquisitive firm mentioned it had a pipeline of potential acquisition alternatives this 12 months following a busy 12 months in 2023.
In December its personal fairness division Maven Capital Companions acquired EIS supervisor Newable Ventures Restricted as a part of a transfer into the Enterprise Funding Scheme market.
In September, its subsidiary Ludlow Wealth Administration acquired £53m AUM Blackpool-based Opus Wealth Administration Restricted in a deal doubtlessly price greater than £1.4m.
Earlier final 12 months it acquired a 50.1% stake in Lincoln-based mortgage adviser White Mortgages for £425,000.
It additionally acquired Northern Eire Monetary Planner Doherty Pension & Funding Consultancy for £15.048m.