Wealth management companies Mattioli Woods and Kingswood Group have unveiled a merger, creating a new £25 billion UK wealth management group.

Pollen Street Capital, which owns both firms, said it will bring enhanced capabilities across wealth planning, investment management, and client service.

This deal - which is subject to the Financial Conduct Authority’s approval - will create a new group to serve more than 25,000 clients, and the combined organisation has more than 40 offices in the UK, including Queen's Terrace in Aberdeen.

Ian Mattioli, CEO and founder of Mattioli Woods Group, said: “Our stated long-term ambition is to become a national wealth management firm with £60bn in assets and up to 300 advisers. Combining with Kingswood is a transformational moment and sees us accelerate our journey to achieve these goals.

“This deal brings together two highly complementary businesses with a shared commitment to putting clients first and delivering long-term value. We’ve admired Kingswood’s growth and reputation for some time. Together, we are creating a stronger, more dynamic business that is well-positioned for the future – for our clients and our people.”

Peter Coleman, CEO of Kingswood Group, added: “The combined business will accelerate our journey towards achieving our vision of having the scale to deliver a best-in-class wealth management service to our clients. 

“This is supported by our market leading DFM and IBOSS brands.  I am excited to combine with Mattioli Woods, who have a strong reputation of delivering broader services including group benefits and deep expertise in specialist pensions.” 

The deal includes Aberdeen-founded private equity business Maven Capital Partners, which was acquired by Mattioli Woods in 2021, and has a stake in a number of North-east companies.

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