KINGSWOOD ACQUIRES GLASGOW-BASED ADVISER
Capital and Trust - November 14, 2022 - 0 minute read
Kingswood Group has acquired Glasgow-based financial adviser Strategic Asset Managers Limited (SAM) for £5.1m.
Strategic Asset Managers Limited was founded in 2001. The team has three advisers and eight employees, managing more than 400 clients and over £200m of assets. They operate across central Scotland and Perthshire, and in the year to March 31 it generated revenue of £1.2mn and pre-tax profit of £517,000.
The fee is payable over two-years, with £3.1m paid on completion and the balance paid on a deferred basis.
Kingswood chief executive, David Lawrence, said: “I’m pleased to announce another step forward in the growth of Kingswood as we expand our footprint into Scotland. The opportunity to build our relationships across Scotland is an exciting one as we strive to help more people achieve their goals.”
Managing director of SAM, Fiona Stewart, added: “We have worked closely with Kingswood’s key personnel during the due diligence process and have been impressed by the quality of their people, their vision and technology. Joining Kingswood will allow our clients and staff access to technology and resources that were out of our reach as a smaller advisory firm.”, added: “We have worked closely with Kingswood’s key personnel during the due diligence process and have been impressed by the quality of their people, their vision and technology. Joining Kingswood will allow our clients and staff access to technology and resources that were out of our reach as a smaller advisory firm.”
The transaction boosts Kingswood’s global funds under advice to more than £10.5bn.
If you’d like a confidential, obligation-free discussion about selling or acquiring a Wealth Management / Asset Management business, please click here, alternatively contact us on 0207-043-4300 or email us.
Kingswood Group has acquired Glasgow-based financial adviser Strategic Asset Managers Limited (SAM) for £5.1m.
Strategic Asset Managers Limited was founded in 2001. The team has three advisers and eight employees, managing more than 400 clients and over £200m of assets. They operate across central Scotland and Perthshire, and in the year to March 31 it generated revenue of £1.2mn and pre-tax profit of £517,000.
The fee is payable over two-years, with £3.1m paid on completion and the balance paid on a deferred basis.
Kingswood chief executive, David Lawrence, said: “I’m pleased to announce another step forward in the growth of Kingswood as we expand our footprint into Scotland. The opportunity to build our relationships across Scotland is an exciting one as we strive to help more people achieve their goals.”
Managing director of SAM, Fiona Stewart, added: “We have worked closely with Kingswood’s key personnel during the due diligence process and have been impressed by the quality of their people, their vision and technology. Joining Kingswood will allow our clients and staff access to technology and resources that were out of our reach as a smaller advisory firm.”, added: “We have worked closely with Kingswood’s key personnel during the due diligence process and have been impressed by the quality of their people, their vision and technology. Joining Kingswood will allow our clients and staff access to technology and resources that were out of our reach as a smaller advisory firm.”
The transaction boosts Kingswood’s global funds under advice to more than £10.5bn.
If you’d like a confidential, obligation-free discussion about selling or acquiring a Wealth Management / Asset Management business, please click here, alternatively contact us on 0207-043-4300 or email us.