Capital and Trust - December 15, 2022 - 0 minute read

Kingswood has bought Berkshire-based advice firm Barry Fleming & Partners for £6.2m, subject to regulatory approval. Payable over a two-year period, £3.1m paid on completion and the balance paid on a deferred basis subject to the achievement of pre-agreed performance targets.

Barry Fleming was established in 1975, it has three advisers and six employees and manages £140m for 415 clients. In its most recent full-year results to the end of February 2022, the firm recorded a pre-tax profit of £190,000 on a turnover of £1.4m.

MD of Barry Fleming & Partners, Lisa Chantrey, said: “The whole team are incredibly excited to be working with Kingswood. Kingswood will offer us the platform to grow and develop our legacy. The changing times of Financial Planning and regulation are burdensome for smaller companies and the move to work with Kingswood will help spread the load of regulation and administration. The team remains unchanged and the move will allow us to concentrate even more of our time on our clients – a central experience at Barry Fleming and Partners.”

Kingswood Group CEO, David Lawrence, said: “Barry Fleming & Partners has a deep rich history and has established itself as a reputable, dynamic and client centric business over the past 47 years. The depth of relationships with their clients is truly evident through their extensive reputation. Extending into Berkshire is a further acknowledgement of our desire to grow our footprint.

The deal will take Kingswood’s assets under management to £11.3b, with £9b managed in the UK and Ireland.

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