Transatlantic advice firm Kingswood receives 'buy' recommendation from investment bank

In its initiation of coverage, Peel Hunt analysts noted the firm's assets under management (AUM) in excess of £5bn and EBITDA over £20m, despite being in "the early stages of development". Over recent years, Kingswood has "undergone significant change" amid the acquisition of five financial advice businesses, as it seeks to utilise "consolidation opportunities" in both the UK and US to "build a materially larger business, leveraging off the platform that has been built". Analysts Stuart Duncan and Robert Sage pointed to four key elements which define the investment case at Kingswood, ...