Mattioli Woods acquires financial planning business for up to £1.8m

Payment in three instalments

Anna Fedorova
clock • 2 min read

Mattioli Woods has announced the acquisition of 100% of the share capital of Richings Financial Management for an initial consideration of £0.9m and a potential further consideration of up to £0.9m if the firm attains specified performance targets in the two years after completion.

Founded in 1991, Richings is a financial planning and wealth management business working with over 270 private client families with approximately £70m of assets under advice. The firm is based in Iver and has a four-strong team, including director Clive Ridge, all of whom will remain with Mattioli Woods following completion. The acquisition will consist of an initial consideration of £0.9m cash on a cash-free, debt-free basis, and a second contingent consideration of up to a further £0.9m payable on the first and second anniversaries of completion, if the firm reaches certain profit t...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Plannr partners to integrate cashflow tool onto CRM

Plannr partners to integrate cashflow tool onto CRM

To increase efficiencies for advisers when carrying out cashflow analysis

Isabel Baxter
clock 11 April 2024 • 1 min read
Six largest platforms dominate new business flows for toiling sector

Six largest platforms dominate new business flows for toiling sector

Six largest advised platforms take 60% of new business

Sahar Nazir
clock 11 April 2024 • 2 min read
SimplyBiz prepares firms for Consumer Duty anniversary

SimplyBiz prepares firms for Consumer Duty anniversary

Compliance clinic launched to offer guidance around the regulation

Sahar Nazir
clock 11 April 2024 • 1 min read