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November 15, 2021

Kingswood announces acquisition of Money Matters

By Patrick Brusnahan

Kingswood has agreed to acquire Money Matters, a privately owned wealth management business.

Following regulatory approval, Money Matters will be acquired for cash up to £3.4m payable over a two year period by Kingswood. However, £1.7m will be paid at closing and the balance paid on a deferred basis.

Primarily offering services in the North East of England, Money Matters boosts Kingswood’s UK client facing advisory team to 69 people.

In addition, UK funds under advice/management increase to £4.6bn ($6.2bn) and Kingswood Group AuA now totals over £6.3bn.

David Lawrence, UK CEO at Kingswood, said: “Since becoming UK CEO late last year, I have focused on building momentum in the business and expanding our capabilities to integrate and grow. I am thrilled to announce our acquisition of MMNE and look forward to welcoming Alastair Raine, Chris Woodhams and the whole team to Kingswood.

“Both Chris and Alastair have extensive experience as financial advisers and started MMNE in 2010 with a vision to combine their extensive expertise together to create a client centred business which is a vision that we share at Kingswood.

“The Kingswood model is designed to provide a centralised, efficient support infrastructure to manage the routine, but time consuming tasks required across compliance, finance, human resources, risk and technology, allowing the MMNE team to deliver a superior level of service to their clients. I am really looking forward to working with Chris and Alastair as we further grow the business as part of the Kingswood Group.

“We remain committed to perpetuating our stated growth strategy within the UK and internationally. This is our second acquisition of 2021 and we continue to have a strong pipeline of high-quality UK opportunities under negotiation, six of which are in exclusive due diligence as we continue to grow our financial planning and investment management reach across the UK. We expect to be making more announcements over the coming weeks.’’

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