Kingswood Holdings, the fully integrated wealth and investment management organisation, has announced that its Irish subsidiary, Moloney Investments, has completed the acquisition of BasePlan, a retirement planning advising firm situated in Dublin, Ireland, pending regulatory approval.
David Lawrence, Kingswood Group CEO commented: “We are delighted that we have now received regulatory approval to complete the acquisition of Base Plan Limited. We acquired MMPI in March 2023 with the intention of identifying acquisition opportunities to help scale the business. We see the Irish market as rich in opportunity and hope to further add to our MMPI business in the near future.”
BasePlan, based in Dublin, Ireland, is a well-established financial advising firm that has been offering client-driven financial and retirement planning, as well as wealth management services, for over 30 years.
Moreover, BasePlan’s proprietors, Rhona Burke QFA and Gordon Mellon FCA, have effectively developed the business since its beginning, managing €130m in client assets while maintaining good relationships with its consumers.
Upon completion, there will be a supervised handover with some of the team remaining, ensuring a smooth transition for clients.
MMPI’s acquisition of BasePlan is expected as part of Kingswood’s March 2023 acquisition of MMPI.
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The balance of funds needed for completion was given as part of MMPI’s completion proceeds, and it was kept in reserve until this regulatory approval was obtained.
Bryan Moloney MMPI CEO added: “I am delighted to announce the completion of the acquisition of BasePlan. It fits well with our culture and purpose, and I am looking forward to welcoming the BasePlan clients and providing a continued excellent service as well as the service and technology benefits of our wider business.”