International wealth and investment manager Kingswood has agreed to acquire the business assets of south Yorkshire-based DJ Cooke Financial Planning.
DJ Cooke is an IFA firm specialising in retirement and investment planning. Chief executive David Cooke is the sole adviser looking after around 340 client households with around £70m ($95m, €84m) assets under advice.
Following completion of the deal, around £1.5m is payable over a two-year period. Some £749,000 will be paid at closing and the balance paid on a deferred basis, some of which is subject to the achievement of pre-agreed performance targets.
David Lawrence, UK chief executive at Kingswood, said: “I am delighted to welcome David and the team at DJ Cooke Financial Planning Limited into Kingswood.
“This is our first acquisition of 2022 and we continue to have a strong pipeline of high-quality UK opportunities under negotiation, five of which are in the exclusive due diligence stage.”
This deal comes several months after Kingswood agreed to buy the Iboss Group in £16m deal.
