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Selling your financial planning business
25
Jun

Kingswood Holdings acquires Yorkshire IFA

Sterling Trust Financial Consulting Limited, based in Yorkshire, has been purchased by Kingswood Holdings, in a deal that has doubled the firm’s advice business. 

The transaction, which is worth almost £18m, has added 5,000 clients, £1.2bn in assets under management, and 22 advisers, to Kingswood.

Louise Jeffreys, MD of Gunner & Co. said: “This represents a good deal for Kingswood, whose vertical integration could offer clients access to new services, with headline figures suggesting a purchase price of c. 1.5% of assets under management, compared to market averages of 1.8% – 2.5%”

This comes after Kingswood secured £80m from Pollen Street Capital, in order to fund its external growth via acquisition.

Gary Wilder, group chief executive of Kingswood, said: “This is a transformative transaction for the Kingswood Group, doubling our wealth advisory business and providing us with an opportunity to own a profitable regional financial planning business with built-in expertise and capacity to expand.

“There is also a major opportunity over time to migrate existing and new clients to Kingwood’s extensive and growing range of managed investment solutions on our DFM platform, underpinning the value of a fully integrated wealth and investment management business.

“We have a robust pipeline of further acquisition opportunities in the UK and US that we are reviewing; and we have three transactions under exclusive due diligence in the UK.”

Gunner & Co. work with Kingswood Holdings, introducing quality businesses. If you would like to know more about selling your business to Kingswood, contact gwill.evans@gunnerandco.com