News

14
Nov

Kingswood to target advisers in their mid-50s

Kingswood, the Aim-listed wealth manager, has revealed part of its acquisition strategy: aiming to buy IFAs who are in their mid-50s. 

A representative for Kingswood said: “While UK IFA consolidation is not new, Kingswood’s group structure allows it to offer generous potential upside opportunities to IFA principals aiming to sell their business.

“As a consequence, Kingswood provides large potential growth opportunities for IFAs in their mid-50s as opposed to the more widely implemented ‘bolt-on’ model where acquired IFAs, often in their mid-60s, are forced to integrate into a large corporate-style culture.” 

CFO and CEO Patrick Goulding said that Kingswood were looking for principals to remain in the group after acquisition, instead of retiring, in return for long-term incentive plans and what Mr Goulding called “appropriate” compensation.