Mattioli Woods, the wealth management and SIPP provider, has reported full year revenue up 16.2% to £58.7m with pre-tax profit rising by 27.3% to £9.8m compared to 2017.

The strong figures come after a period of rapid expansion for the Leicester-based firm which focuses mainly on wealth management and employee benefits as well as a long-running SIPP and SSAS operation.

The firm has recently acquired a number of businesses including Broughtons Financial Planning, acquired for £4m in August, and other wealth manager and Financial Planning firms.

The company manages £8.73bn in client assets, up 10% on last year.

Mattioli Woods added over 1,300 new clients during the year compared to 1,200 the previous year and now has 134 consultants compared to 115 the previous year. During the year the company extended its geographic footprint, adding a new Manchester office in May. A new Edinburgh office will open this month and a new Leicester office in October.

Ian Mattioli, chief executive, said: “I am pleased to report another year of strong and sustainable growth, with revenue up 16.2% to £58.7m (2017: £50.5m).

“Organic revenue growth of 15.6% or £7.7m (2017: 11.6% or £4.4m) was primarily driven by the flow of new business generated by our consultancy team, with over 1,300 new SIPP, SSAS and personal clients choosing Mattioli Woods during the year.

“Recent acquisitions and investments continue to perform well. Organic growth was supplemented by full-year revenues of £1.7m (2017: £1.2m) from the MC Trustees pension administration business acquired in September 2016 and our share of profits from (fund manager) Amati increased to £0.2m (2017: £0.1m).

“Last month we announced the acquisition of Broughtons Financial Planning, which has a similar culture to Mattioli Woods and gives us new opportunities to grow and develop the client offering of the combined business. With increasing complexity and continuing consolidation across the key markets in which we operate, we expect there will be further opportunities to accelerate our growth by acquisition.”