Kingswood expands into Scotland with £5m adviser purchase

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...