Advice firm and wealth manager Kingswood has acquired North Yorkshire based Metnor Holdings and its subsidiaries IBOSS Asset Management and Novus Financial Services for £16m, subject to regulatory approval.
The deal has taken Kingswood's UK assets under management to £3bn, with total assets under administration reaching almost £8bn. Kingswood's client-facing advisory team has now grown to 80 people, with the number of active clients reaching over 15,900. The acquisition is the transatlantic firm's third deal in less than two weeks after buying Kent-based IFA Smythe and Walter and adviser firm Money Matters North East in separate deals last week. Those purchases cost £840,000 and £3.4m respectively. With regards to the Metnor deal announced today, Metnor's subsidiaries have brought in a ...
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