mattioli woods on wednesday said its profit for fiscal 2023 was in line with expectations as it reported a 3 revenue rise for the year as client demand for advice increased on the back of the pension and tax rule changes from the spring budget the wealth and asset management business said its organic revenue rose 4 on year and was partially offset by the market impact on ad valorem placement and performance fees the uk group pointed to a market consensus forecast for the year ended may 31 that has adjusted pretax profit at 300 million pounds 381 million revenue at gbp1134 million and adjusted earnings before interest taxes depreciation and amortization at gbp330 million its net client assets stood at gbp153 billion at the end of the year compared with gbp149 billion a year prior gross discretionary assets under management fell to gbp47 billion from gbp51 billion due to negative market movements it said whilst inflationary cost pressures and investment in our strategic initiatives may impact margins in the short term we are confident that we will continue to deliver attractive longterm sustainable shareholder returns chief executive ian mattioli said the londonlisted group also said it has named its group managing director michael wright as deputy chief executive