Transatlantic financial advice consolidator Kingswood has acquired North Lincolnshire-based financial planning firm Admiral Wealth Management.
The business employs seven people, two of them advisers, and manages around £100m in assets for about 600 clients. It made a £600,000 profit in the 12 months to March 2020. The £4m price tag will be paid over a two-year period, with £2m handed over at closing and the remaining balance will be paid on a deferred basis. The firm has been led by Peter and Carol Waller and Mike Biggin. The two Wallers are set to retire at acquisition with Biggin, alongside senior consultant Adam Harrison, to lead the business under the Kingswood banner. Kingswood UK CEO Lawrence: I don't like the word ...
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