Integrated wealth management group, Kingswood Holdings Ltd, has continued its expansion with the acquisition of Thomas & Co Financial Services, in Oxfordshire.
It is another major step in Kingswood’s strategy to become a leader in the UK wealth and investment management market and build a nationally recognised brand. It follows the acquisition of Independent Financial Advisers, Marchant McKechnie in October last year.
Based in Abingdon, Thomas & Co offers a wide range of services to its clients, including personal and company pensions, investments, and tax planning. It serves around 500 clients and has approximately £150 million of assets under advice (AUA). Principals and staff remaining with the group will continue to operate from Thomas & Co’s existing office.
Kingswood now has more than 4,500 active clients, and assets under advice and management of £1.9 billion. This deal broadens Kingswood’s UK footprint, adding to its existing office network in London, Manchester, Cheltenham, Maidstone, Worcester and Beverley.
Gary Wilder, Group Chief Executive, Kingswood, said: “Our integrated wealth and investment management platform provides Kingswood with a strong competitive advantage and enables us to drive growth initiatives under a common brand.
“Our strategy remains firmly focused on seeking opportunities, domestically and internationally, to drive growth in revenue and assets under management and advice, through acquisition and by attracting best in class wealth and investment talent to the Kingswood platform.
“We have a strong pipeline of opportunities we are currently evaluating. Access to products such as our enhanced Managed Portfolio Service, which we have also announced, as well as the rigour and discipline of our investment process, makes us an attractive partner to firms such as Thomas & Co. I want to welcome the excellent team at Thomas & Co to Kingswood, and we look forward to working with them.”
Joe Berry, Founder and Principal of Thomas & Co, added: “Kingswood is a very similar firm to us, with a strong commitment to protecting client’s wealth and providing first-class advice, with the emphasis on face-to-face personal service. They also give us access to an array of innovative investment products and services beyond those readily available to our private clients.”