Kingswood acquires Oxfordshire-based adviser firm for up to £3.3m

Kingswood will pay an initial purchase price of £1.5m, with a further deferred sum of up to £1.8m being payable, subject to revenue and profitability metrics over a three-year period. Thomas & Co offers a range of services to clients, including personal and company pensions, investments and tax planning. It has around 500 clients and approximately £150m of assets under administration (AUA), and in 2017 it generated profit before tax of £0.46m. The principals and staff of the Oxfordshire-based firm will join Kingswood as part of the acquisition and continue to operate from its existing...