Mattioli Woods acquires planning business Montagu for £2.3m

Montagu, established in 1996 and based in Twickenham, provides fee-based financial planning advice and administration to more than 150 private and corporate clients. It has four staff who will transfer to Mattioli Woods. In the year ended 31 July 2020, Montagu generated revenues of £0.77m with pre-tax profits of £0.31m.  At 31 July 2020 Montagu's gross assets were £1.05m and net assets were £0.95m, including £0.91m of cash.  Mattioli Woods said the acquisition "is expected to be earnings enhancing in the first full year of ownership". Chief executive Ian Mattioli said: "Our discussion...