Kingswood expands into Scotland with £5m adviser purchase

Tenth deal in 2022 will boost global funds under advice to £1.5bn

Julia Bahr
clock • 3 min read

Transatlantic consolidator Kingswood has completed the acquisition of Glasgow-based financial advice firm Strategic Asset Managers (SAM).

Expanding its footprint into Scotland, Kingswood bought SAM for £5.1m, the firm revealed today (14 November). SAM was set up in 2001 and has a team of three advisers and a total of eight employees, managing more than 400 clients with more than £200 of assets under advice (AUA). In the financial year ending 31 March 2022, the firm generated a revenue of £1.2m and profit before tax of £517, 000. Kingswood group chief executive David Lawrence said: "I am pleased to announce another step forward in the growth of Kingswood as we expand our footprint into Scotland. "When we are consideri...

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Your Business

What it takes to become a good leader in financial planning

What it takes to become a good leader in financial planning

Empowering people key to effective leadership, experts say

Julia Bahr
clock 01 December 2022 • 7 min read
Five steps to crafting the perfect elevator pitch for your advice firm

Five steps to crafting the perfect elevator pitch for your advice firm

Tips for advisers to consider and traps for them to avoid

Simon Goldthorpe
clock 28 November 2022 • 4 min read
Can your business succeed by failing intelligently?

Can your business succeed by failing intelligently?

'The first step in failing intelligently is to take responsibility'

Darren Mead
clock 25 November 2022 • 4 min read