StockMarketWire.com - Mattioli Woods, the specialist wealth and asset management business, has announced it has acquired Richings Financial Management for an initial consideration of £0.9 million and a potential further consideration of up to £0.9 million, dependent on performance targets.

Richings was founded in 1991 and boasts 270 private client families with approximately £70 million of assets under advice.

It employs four staff, all of whom will remain with Mattioli Woods following completion.

In the year ended 30 April 2021, Richings generated revenues of £0.66 million.

‘We believe the broader range of products and services offered by Mattioli Woods, including our enhanced product offering to clients from the recent acquisition of investment manager Maven Capital Partners, can help build on the great outcomes Richings' clients already achieve,’ said CEO of Mattioli Woods, Ian Mattioli.


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