Kingswood’s total revenue has risen to £149m in the past year to December 31, a 488 per cent increase on the same period the previous year.
The impressive performance coincides with its 2022 acquisition spree consisting of the purchases of Allots Financial Services, DJ Cooke Life and Pensions, Joseph R Lamb Financial Advisers, AiM Independent Financial advisers and Vincent & Co.
These purchases followed on from its established string of acquisitions made in 2021: Money Matters, Metnor Holdings, Admiral Wealth Management and Smythe & Walters. In 2021, Kingswood’s external growth saw profit soar by £2.4m, and assets under management increased to £1.8bn.
David Lawrence, chief executive of Kingswood, commented on his philosophy for expansion:
“The so-called ‘advice gap’ represents a significant opportunity for firms to provide accessible advice to clients that are either under-served or in many cases unserved.”
“The need for financial advice has never been greater and in this sense firms such as Kingswood can help fulfil what I believe to be a societal need.”
Mr Lawrence added that eight acquisitions were in the pipeline for Kingswood, pending due diligence.
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