KW Wealth acquires Marchant McKechnie for up to £4m

Following the acquisition, which is subject to FCA approval, the integrated wealth management group will have more than £2bn of assets under advice, 20 financial advisers and more than 4,000 active clients. KW Wealth said Marchant McKechnie would continue to operate from its existing office in Beverley and would become its seventh regional office in the UK, after London, Manchester, Cheltenham, Maidstone, Brighton and Worcester. In a statement, the group said: "The £4m consideration comprises an initial cash payment of £1.6m with a deferred sum of up to £2.4m. This is payable in cash ...