Kingswood has completed the acquisition of Smith Pearman and Associates, a financial consultant based in Alton, Hampshire.
The deal will add £70m assets under advice across 240 clients to Kingswood.
Smith Pearman and Associates director Steve Egginton, said: “Wishing to build on the success of Smith Pearman and Associates, we are joining the Kingswood group to provide our clients with enhanced levels of financial advice and services for the future.
“Kingswood’s ethos of putting their clients at the forefront of their service proposition dovetails with our own culture of providing great service together with excellent advice.
“We look forward to working with Kingswood to provide a smooth and seamless transition for our clients.”
David Lawerence, the chief executive of Kingswood, said, “This deal also reinforces our presence in Hampshire, building on our recent acquisition of AiM Independent and creating a sustainable hub in the region.”
Kingswood, the AIM-listed adviser, has made a string of acquisitions over the years, and revealed a “healthy acquisition pipeline” of seven potential deals. Mr Lawrence commented on Kingswood’s external growth strategy: “Our near-term target is to build our UK AUM and AUA in excess of £10bn in the U.K. and £14bn globally.”
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