Wimbledon-based IFA firm Holborn Financial has bought Whitchurch-based Kingsley Financial Management for an undisclosed sum.
Kingsley was founded by Eamon Keelan nearly 20 years ago and advises 120 private clients. The firm has around £20m ($24.9m,€22.9m) in assets under advice. Keelan will be retiring with immediate effect.
M&A broker Gunner & Co advised Kingsley Financial Management on the deal.
Emyr Blease, managing director of Holborn Financial said: “While we are planning to grow our business by acquisition, we will only do deals with retiring principals who uphold our ethos. Eamon has served his clients very well over the years and it is our duty to ensure they continue to receive the best possible advice and service.”
Keelan added: “As I planned for retirement I knew I could sell my business easily. However, I have both the statutory duty and also a strong personal desire to ensure that all my clients have a smooth and orderly transition to another highly regarded and respected IFA firm. To this end, I conducted a rigorous selection process.
“Holborn Financial is a larger firm with greater resources and is also one of only 600 IFAs holding chartered status. I am confident that the ways of working and investment strategy, which are also closely aligned with my own ethos, as well as the strong ethical, moral and personal customer service, will be maintained.”
The deal comes 18 months after wealth manager Alpha UK Holdings acquired a majority stake in Holborn Financial.
Alpha UK is an affiliate of AlphaWealth, a South African investment and advisory business that provides financial services to high net worth and family office clients.
