Skip to content
International Adviser
  • Contact
  • Login
  • Subscribe
  • Regions
    • United Kingdom
    • Middle East
    • Europe
    • Asia
    • Africa
    • North America
    • Latin America
  • Industry
    • Tax & Regulation
    • Products
    • Life
    • Health & Protection
    • People Moves
    • Companies
    • Offshore Bonds
    • Retirement
    • Technology
    • Platforms
  • Investment
    • Equities
    • Fixed Income
    • Alternatives
    • Multi Asset
    • Property
    • Macro Views
    • Structured Products
    • Emerging Markets
    • Commodities
  • IA 100
  • Best Practice
    • Best Practice News
    • Best Practice Awards
  • Media
    • Video
    • Podcast
  • My IA
    • Events
    • IA Tax Panel
    • IA Intermediary Panel
    • About IA

ANNOUNCEMENT: Read more financial articles on our partner site, click here to read more.

SIGN IN INTERNATIONAL ADVISER

Access full content on the International Adviser site, access your saved articles, control email preferences and amend your account details

[login-with-ajax]
Not Registered?

Kingswood bags advice firm in £12.4m acquisition

By Cristian Angeloni, 1 Dec 22

It has four potential M&A deals currently under exclusive due diligence

Global wealth management group Kingswood has purchased Cheshire-based JFP Holdings, the parent company of JFP Financial Services, for £12.4m ($15m, €14.3m).

JFP was established 40 years ago and serves customers across Cheshire, Derbyshire and Staffordshire. The company also provides financial advice to medical professionals, businesses and their employees.

It manages around £360m of assets on behalf of 1,295 clients.

Finances

Kingswood said the M&A deal will be paid for by utilising a £150m funding facility the company secured in October 2022.

The total consideration will be payable over a two-year period, with £7.44m paid upon receiving regulatory approval, and the remainder on a deferred basis subject to the achievement pre-agreed performance targets.

The acquisition will bring total funds under advice/management for the UK and Ireland to over £8.5bn and global assets under advice to around £11bn.

Pipeline

David Lawrence, Kingswood Group chief executive, said: “The acquisition of JFP Holdings will expand our geographical footprint into the northwest region and an affluent south Manchester area. JFP Holdings are a high-quality business that has operated with its affiliate Josolyne & Co, a leading chartered accountancy practice, for many years.

“Our growth strategy is important and we are strongly committed to supporting more clients. We have a further four acquisitions under exclusive due diligence that we expect to close in the coming months, plus a number of additional transactions that are currently under negotiation.”

In November 2022 alone, Kingswood acquired Employee Benefit Solutions for £5.08m; JCH Investment Management for £3.5m and Glasgow-based Strategic Asset Managers for £5.1m.

But the wealth giant’s growth ambitions do not stop at just the UK, as recently Lawrence told International Adviser that Kingswood plans to replicate its UK acquisition spree strategy in the Irish market as well.

Tags: Kingswood

Share this article
Follow by Email
Facebook
fb-share-icon
X (Twitter)
Post on X
LinkedIn
Share

Related Stories

  • Latest news

    Crypto fund flows boosted by Trump policy

    Latest news

    UK IHT change set to hit pension pots holding commercial property

  • Latest news

    Ex-Janus Henderson analyst jailed for laundering £1m

    Latest news

    HSBC sells UK life arm to Chesnara


NEWSLETTER

Sign Up for International
Adviser Daily Newsletter

subscribe

  • View site map
  • Privacy Policy
  • Terms and Conditions
  • Contact

Published by Money Map Media – part of G&M Media Ltd Copyright (c) 2024.

International Adviser covers the global intermediary market that uses cross-border insurance, investments, banking and pension products on behalf of their high-net-worth clients. No news, articles or content may be reproduced in part or in full without express permission of International Adviser.