Kingswood has acquired JFP Financial Services, a Macclesfield-based IFA, in a deal that adds £360m assets under management and 1.3k clients.
The transaction is worth a total of £12.4m, which will be paid over a two year-period under the terms of the deal, including c.£7.5m to be paid once regulatory approval is obtained.
David Lawrence, CEO at Kingswood Group, commented:
“Led by Andy Heywood, JFP Holdings have a long track record of delivering an exceptional level of service and strong client relationships over many years, and I am delighted to welcome them to the Kingswood Group. Our growth strategy is important and we are strongly committed to supporting more clients.”
The deal comes as Kingswood’s acquisition pipeline continues to grow in line with its ambitious external growth strategy. In November alone, Kingswood made three acquisitions – Employee Benefit Solutions, JCH Financial and Strategic Asset Management – and reported that it was in talks to buy eight further firms.
To discuss the market for potential acquisitions, speak with our Senior Broker Gwill Evans and click here.
Louise Jeffreys is managing director of Gunner & Co, an IFA broker with values based on strong relationships built on trust, credibility and value.
Gunner & Co. specialise in IFA sales, IFA business sales, retiring IFAs and IFA client bank sales.