Cost cutting helped Mattioli Woods maintain modest profit growth over the past 12 months in the face of market challenges.

Wealth manager and SIPP firm Mattioli Woods has made 18 staff redundant from a workforce of 622 as it pushes through “operational efficiencies” following  a period of rapid expansion and acquisition.

Wealth manager and SIPP provider Mattioli Woods has reported revenue up 16.9% to £28.4m (H1.2017: £24.3m) in the six months ended 30 November 2017.