MKC Wealth, the PE-backed wealth management and advice firm, has acquired a Kent-based accountancy firm, Samuels.
Sam Narula added, founder of Samuels, commented: “Since 1992 we have built a significant business organically and have earned a great reputation. With our in-house IFA approaching retirement, I was determined to make sure our clients continued to receive the best possible advice.
“Our initial search proved fruitless as I found the ‘sausage factory approach’ of the people who wished to acquire our IFA clients business very disappointing.
“I considered MKC’s approach refreshing. Their ethos matched our own. Tightening regulation and compliance makes it imperative that the services offered to our clients must be of the highest professional standards and that is why we were keen to partner with MKC Wealth.”
MKC Wealth has been backed by Cabot Square Capital since 2021, when former Quilter bosses Dominic Rose and Nigel Speirs ran a management buy-in to takeover the firm.
MKC Wealth chief executive Dominic Rose commented: “We are the preferred financial advisory partner for a number of accountancy practices which have chosen to focus on their core business in the face of increasing financial services regulation.
“This transaction facilitates the continuation of advice and service to Samuels’ clients following the retirement of their in-house adviser, whilst enabling us to be a trusted partner for their future clients’ needs.”
The deal follows a number of purchases made by MKC this year, as part of Mr Rose and Mr Speirs’ growth plans for the firm, including the acquisition of Genius Wealth Management back in July, and Anthony & Bryant in March.
If you are looking to sell your business, find out more about selling you business to MKC Wealth (or others) Gunner & Co. can help you. Book a meeting with our MD Louise Jeffreys 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.