Strategic Investment in Technology Partner

RNS Number : 3572M

Mattioli Woods PLC

20 January 2021

 

20 January 2021

Mattioli Woods plc

("Mattioli Woods", "the Company" or "the Group")

Strategic Investment in Technology Partner

Mattioli Woods plc (AIM: MTW.L), the specialist wealth management and employee benefits business, is pleased to announce an investment in Tiller Group Limited ("Tiller") as part of a new strategic relationship to develop a digital, self-investment application.

Tiller provides a Software as a Service ("SaaS") wealth management platform designed specifically for wealth managers and other regulated financial services businesses. We will work closely with Tiller to develop its market-leading, automated investment management platform that will extend our discretionary investment management services to a new range of clients. The investment sees the Company take an initial shareholding of 4%, through a subscription of new shares in Tiller, with the potential to increase this holding in the future.

The platform will provide a streamlined investment solution under one digital interface, from onboarding including risk profiling, managing investment portfolios to client reporting, at a competitive price for the client and is planned for launch later this year.

Michael Wright, Group Managing Director said:

"We are very excited about our new relationship with Tiller and the opportunity this will provide for both new and existing clients. Technological innovation is key to our ambitious growth strategy and through working with Tiller, we demonstrate our commitment to enhancing our digital offering to clients. This platform will enable us to provide great outcomes to a new client demographic and also allows us to further simplify and enhance the process of bringing on board new clients both efficiently and highly securely - appropriate for a COVID and post-COVID environment".

Ian Cadby, Chief Executive Officer, Tiller Group Limited said:

"Mattioli Woods' requirements fit perfectly with our expertise and experience in designing and building leading-edge customer-facing digital solutions. We have a proven capability in this arena and are proud to have Mattioli Woods as both a client and a shareholder."

- Ends -

For further information please contact:

Mattioli Woods plc
Ian Mattioli MBE , Chief Executive Officer
Ravi Tara, Group Finance Director Michael Wright, Group Managing Director	Tel: [phone] www.mattioliwoods.com
Canaccord Genuity Limited (Nominated Advisor and Joint Broker)
Emma Gabriel		Tel: [phone]
Tom Diehl		www.canaccordgenuity.com
N+1 Singer (Joint Broker)
Justin McKeegan, Corporate Finance
Pete Steel, Corporate Finance	Tel: [phone]
Tom Salvesen, Corporate Broking	www.n1singer.com

Media enquiries:

Camarco
Ed Gascoigne-Pees	Tel: [phone]
	www.camarco.com

 

END

 

 

NRABMMITMTTTBJB