Specialist wealth manager Mattioli Woods has increased its profits by 60 percent in the first half of its 2024 financial year.

In the six months to 30 November, pre-tax profits grew from £4.8 million to £7.6 million year-on-year.

The firm said this was in part due to reduced deferred consideration payments recognised as remuneration expense of £2.5 million, down from £3.9 million a year earlier.

There were also lower acquisition-related costs, which f...