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Monetary Planning-focused wealth supervisor Kingswood has acquired Hants IFA Smith Pearman and Associates, its sixth acquisition of the 12 months up to now.
Kingswood additionally has an additional seven acquisitions within the pipeline, it mentioned in the present day.
Smith Pearman and Associates has been in enterprise for over 35 years and advises on £70m in Property Below Recommendation for greater than 240 purchasers.
The agency has purchasers in Surrey and Hampshire, primarily excessive net-worth people with an current portfolio, or new funding necessities.
Kingswood has acquired 5 UK advisers this 12 months together with Allots Monetary Companies in Rotherham; Joseph R Lamb Monetary Advisers in Essex; DJ Cooke Life and Pensions in South Yorkshire; AiM Unbiased Monetary advisers in Eastleigh and Vincent & Co Ltd in Lincolnshire.
Kingswood mentioned it had a “transformational 12 months” in 2021 with document ranges of income and working revenue in 2021. Income reached £149.7m, a rise by 488% in comparison with 2020, and working revenue elevated by £5.5m to £6.3m. The agency has expanded each within the UK and US.
David Lawrence, CEO at Kingswood Holdings, mentioned: “Smith Pearman and Associates has established itself as a good, dynamic and client-centric enterprise over the previous 30 years and we’re delighted to have its group of extremely expert professionals be part of us at Kingswood.
“This deal additionally reinforces our presence in Hampshire, constructing on our current acquisition of AiM Unbiased and making a sustainable hub within the area.
“Wanting forward, we preserve a wholesome acquisition pipeline and are presently in unique due diligence talks for an additional seven potential acquisitions. Our near-term goal is to construct our UK AUM and AUA in extra of £10bn within the UK and £14bn globally.”
Steve Egginton, director at Smith Pearman and Associates, mentioned: “Kingswood’s ethos of placing their purchasers on the forefront of their service proposition dovetails with our personal tradition of offering a fantastic service along with glorious recommendation. We stay up for working with Kingswood to offer a clean and seamless transition for our purchasers.”
Kingswood is an AIM-listed wealth administration group with £9.1 billion of Property underneath Recommendation and Administration. It has 19,300 purchasers serviced from a community of places of work within the UK and abroad places of work in Johannesburg, South Africa and Atlanta, New York and San Diego in US.
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