International wealth management group Kingswood has acquired Lincolnshire-based IFA firm Vincent & Co for a total cash consideration of up to £421,000 ($555,164, €505,078).
The payment will be made over a two-year period, with £211,000 paid on completion and the remainder on a deferred basis.
Vincent & Co is run by Mark Vincent and provides financial advice to 130 clients in the Lincolnshire area. It has £25m in assets under administration (AuA).
The deal is subject to regulatory approval.
Pipeline
David Lawrence, UK chief executive at Kingswood, said: “I’m delighted to announce the acquisition of Vincent & Co, our fifth acquisition this year.
“Vincent & Co have been established for over 20 years and have built deep relationships with their clients and an ethos which matches ours at Kingswood. This is a great opportunity to make an acquisition that consolidates our presence in Lincolnshire.
“During 2022, we will continue to focus on our acquisition activity. We have a strong pipeline of activity, with four potential acquisitions in exclusive due diligence. Our near-term target is to build our UK AuA/M in excess of £10bn in the UK and £14bn globally.”
So far this year, Kingswood has acquired Yorkshire-based DJ Cooke Financial Planning; Allotts Financial Services in Rotherham; Joseph R Lamb Independent Financial Advisers in Essex; and Eastleigh-based Aim Independent.
