Mattioli Woods has acquired specialist wealth and asset management firm Pole Arnold Financial Management for an initial consideration of £4m, and a further consideration of up to £3m subject to certain profit targets being met in the two years following completion.
Pole Arnold, which was established in 2012 and specialises in fee-based financial planning, has around 360 private and corporate clients with approximately £245m of assets under management and advice. Its team of 16 staff will remain with Mattioli Woods once the deal completes. In the year ended 31 March 2020, Pole Arnold generated revenues of £2.1m and pre-tax profits of £0.8m. Mattioli Woods expected the deal to be "earnings enhancing in the first full year of ownership". Mike Pole, managing director of Pole Arnold, said: "With a larger and more comprehensive infrastructure and s...
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