A Leicester-based wealth management provider has completed the acquisition of a Merseyside firm for £43.5m.
Mattioli Woods has purchased Southport firm Ludlow Wealth Management after the deal received approval by the Financial Conduct Authority.
The East Midlands company first announced the news back in May, alongside its intention to buy London-headquartered Maven Capital Partners.
On Monday, Ian Mattioli MBE, CEO, said: “We are delighted to have completed the acquisition of Ludlow Wealth Management.
“The Ludlow team shares our passion for delivering exceptional client outcomes and this transaction adds to our distribution capacity, particularly in the North West.
“Completion of this acquisition, together with the recently completed acquisitions of Maven Capital Partners and Richings Financial Management, represents meaningful steps toward our ambitious medium-term goals, extending the Group’s existing investment proposition and adding scale, distribution and product to our client proposition.”
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The Merseyside firm has 61 employees, including 22 advisers operating from offices in Fylde, Preston, Burnley, Liverpool and Southport. It manages £1.622m of assets for over 3,300 clients.
Mr Mattioli added: “These acquisitions make us better-positioned than ever to provide our clients with the proactive advice and bespoke investment solutions they require.
“We are very pleased to welcome the Ludlow Wealth Management team to the Mattioli Woods Group.”
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