AIM-listed advice firm Mattioli Woods chairman Bob Woods has scooped over £3 million by selling around one fifth of his shares in the company, including to Fidelity and Schroders.

According to a listing on the London Stock Exchange, Woods (pictured) sold 500,000 ordinary shares in the firm at a price of 617.16p per share, which resulted in him receiving around £3 million for the sold shares.

Woods now holds around 2.5 million ordinary shares in the company, representing a 10.3% stake.

Fidelity and Schroders bought some of the shares through their funds. Fidelity bought around 102,000 shares which has boosted its total to 1,290,000 shares, with a 5.25% stake.

Fidelity’s UK Opportunities and Special Situations funds both held Mattioli Woods earlier this year.

Schroders did not disclose its shareholding prior to its recent purchase or how many shares it had bought, but after the deal it owned 1,245,000 shares in the company, with a 5% stake.

In addition, the company’s directors Mark Smith, Joanne Lake and Carol Duncumb have all bought shares in the company.

Mattioli Woods executive director Mark Smith has bought 2,460 shares at around 610p each, ending with a total 0.02% stake in the company.

Lake and Duncumb both bought 4,100 shares at around 610p each, ending with a total 0.02% stake in the company.