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November 14, 2022

Kingswood expands Scottish presence with Strategic Asset Managers acquisition

Wealth and investment management firm Kingswood has expanded its footprint in Scotland with the purchase of financial adviser Strategic Asset Managers (SAM) for around £5.1m in cash.

Based in Glasgow, SAM caters to families, businesses and professional partners throughout central Scotland and Perthshire.

With a team of three advisers and eight employees, the firm currently handles more than 400 customers with over £200m of assets under administration (AUA).

As part of the new deal, Kingswood will pay the acquisition amount over a period of two years, with £3.1mn paid on completion of the transaction.

The remaining amount will be paid on a deferred basis, pending the success of pre-agreed performance targets.

The deal has increased Kingswood’s funds under advice/management across the world to more than £10.5bn.

It has also brought the firm’s assets under advice/management in the UK and Ireland to more than £8bn from retail and institutional customers.

David Lawrence, Kingswood Group CEO, commented: “When we are considering acquisitions, we do so with the upmost care, to ensure cultural and client focused alignment.

“SAM are focused on helping clients across the central belt of Scotland and Perthshire achieve a confident financial future. The opportunity to build our relationships across Scotland is an exciting one as we strive to help more people achieve their goals.

“Kingswood’s build and buy strategy continues, with a further four purchase transactions under exclusive due diligence, that we expect to close in the coming months, plus additional transactions that are currently under negotiation.”

In September this year, Kingswood revealed its plan to buy Dublin-based financial advice firm Moloney Investments.

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