M and A

Deals Of The Day: The Latest In Wealth Management M&A – Kingswood

Editorial Staff, 17 February 2022


The latest wealth management merger and acquisition transactions in the UK and across Europe.

Kingswood has acquired Aim Independent, an Eastleigh-based financial advice business. 

The transaction, its fourth this year, boosts Kingswood's UK client-facing advisory team to 94 people and increases UK funds under advice/management to more than £7.2 billion ($9.8 billion) from around 19,300 active clients.
The group's combined AUM will total over £9.1 billion from global retail and institutional clients, it said in a statement.

‘’My ambition for Kingswood is to become a leading wealth management advisory and Investment management business, breaking the £7 billion AUA/M mark is a huge signal to that as we continue to grow our geographical footprint across the UK,” David Lawrence (pictured), UK chief executive officer at Kingswood, said.

“Our acquisition of Aim will further expand that reach into a new county in the South. Aim was founded in 2000 and is run by Phil Watson and Andy Davies, who between them they have over 60 years’ experience and an unrivalled commitment to their clients, which fits in perfectly with the culture and ethos at Kingswood.
‘’We continue to have a strong pipeline of high-quality UK opportunities under negotiation, three of which are in exclusive due diligence. Our next near-term target is to build our UK AUA/M to in excess of £10 billion in the UK and £14 billion globally and we have the balance sheet to do so.’’
“With Kingswood we believe we have found the qualities of leadership, talent and knowledge to build on our reputation and create a stronger company with new pathways for growth,” Phil Watson, company principal at AIM, said.

Following regulatory approval, the business will be acquired for a total cash consideration of up to £3.6 million, payable over a two-year period, £1.8 million will be paid at closing and the balance paid on a deferred basis.

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