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February 21, 2022

Kingswood concludes takeover of financial planning firm DJ Cooke

Wealth and investment management group Kingswood has concluded its previously announced acquisition of South Yorkshire-based financial planning firm DJ Cooke.

Kingswood agreed to buy the book asset of DJ Cooke last month for a total consideration of around £1.5m, to be paid over in two years.

South Yorkshire-based D.J. Cooke specialises in retirement and investment planning. Led by CEO David Cooke, the firm advises approximately £70m of assets on behalf of its nearly 340 clients.

D J Cooke reported an unaudited revenue of around £474k and unaudited EBITDA of approximately £227k on an underlying basis in the 12 months to 31 December 2021.

The acquisition takes Kingswood’s UK funds under advice or management to £7.2bn and its number of active clients to more than 19,300.

The group client facing advisory team will now have 94 staff.

Earlier this month, the firm completed a deal for Aim Independent and bought Essex-based Joseph R Lamb Independent Financial Advisers.

In January, it took over Rotherham-headquartered financial advisory firm Allotts Financial Services.

Last year, Kingswood purchased a number of firms, including Metnor Holdings, Money Matters and Smythe and Walter.

Kingswood said in a statement: “Inclusive of the recent recruitment of financial advisers in the US, Kingswood Group assets under administration (AuA) will total over £9.4bn from a combination of both global retail and institutional clients matching our ambition to grow globally as an international integrated full service wealth and investment manager.”

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