Kingswood adviser numbers fall as losses shrink

Meanwhile, the group targeted US expansion, growing its authorised representative numbers by 11%, from 239 to 265. The group's half-year report also showed that losses shrank at the business, which reported a loss before tax of £5.9m for the period versus £9.7m in H1 2023. Kingswood reported a total comprehensive loss of £16.6m last full year. In the latest reported half, the group incurred £4.5m of finance costs on debt facility drawdowns. It also took a £1.6m non-recurring cost hit, which included broker fees on M&A transactions and "costs incurred to reposition the business". It al...