Mattioli Woods has announced the acquisition of 100% of the issued share capital of Pole Arnold Financial Management Limited.
Pole Arnold was established in 2012 and provides wealth management advice and administration for around 360 private and corporate clients with approximately £245 million of assets under management. Pole Arnold is based in Leicester and employs an experienced team of sixteen staff, all of whom will remain with Mattioli Woods following completion.
Like Mattioli Woods, the business specialises in the provision of fee-based financial planning advice. The complementary product offerings provide scope for potential revenue synergies, while maintaining the strong cultural commitment of both companies to putting clients first.
The announcement comes in the wake of Mattioli Wood’s recent acquisition of Montagu.
Commenting on the acquisition, Ian Mattioli, Chief Executive Officer of Mattioli Woods, said:
“We are delighted to welcome Mike and his experienced team as part of Mattioli Woods. I have known Mike for many years and admired how he and his team have grown a great business, built on a strong client-focussed culture and a commitment to going the extra mile. The transaction expands the Group’s presence in both Leicester and London, underlining our commitment to continuing growing both organically and by acquisition.”
Mike Pole, Pole Arnold’s Managing Director, added:
“We are very proud of our team and the quality of service and advice that we provide to our clients. The increasing resources and regulatory burden needed to run a professional advisory business led us to explore options to ensure the long term continuity of our quality advisory service to our clients. With a larger and more comprehensive infrastructure and support team behind us with shared values and culture, we can achieve the economies of scale to keep down the spiralling costs of regulation and compliance.
“When we set up Pole Arnold Financial Management many years ago, the objectives were to provide a quality financial planning advice business and to build long term relationships and friendships with our clients and our professional connections. We discounted a number of possible partner firms as we found only one truly shared our client and staff focussed values. We have known a number of the senior management team at Mattioli Woods for 25 years, and given their successful track record we are looking forward to joining forces with them to achieve our objectives and to secure our advisory services to our clients.
“It is very much business as usual. I and my co-directors Mike Nevill, Rob Bunting and Richard Todd continue in the business, as well as all of our support team in our Leicester office”.
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