Consolidator Kingswood completes £3.45m Regency acquisition

The consolidator added the Egham-based IFA outfit to its operation bringing its assets under advice/management to £5bn.  It said Regency provided independent financial advice to individual and corporate clients primarily in the Greater London area and currently employs 12 people including six IFAs advising on and managing £320m AUA/AUM for about 1,000 clients. The business has been acquired for cash consideration of £3.45m, payable over a three-year period. It said £1.38m was paid at closing and the balance will be paid on a deferred basis subject to Regency meeting pre-agreed recurri...