Specialist wealth and asset management firm Mattioli Woods and wealth and investment management group Kingswood Group have merged to create a “leading” wealth management group.
The combined group will service over 25,000 clients with £25 billion in assets under administration and advice.
The deal is subject to the FCA approval, expected later this year.
The pair said the announcement marks a “significant milestone” in their shared ambition to deepen client relationships, grow their talent base and enhance their service and product offerings.
The integration is expected to deliver greater scale, as well as a stronger market position and improved client experience.
Ian Mattioli, CEO and founder of Mattioli Woods Group, said its long-term ambition is to become a national wealth management firm with £60 billion in assets and up to 300 advisers.
He said: “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.”
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. 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.”
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