Kingswood buys Chartered Planner agency for £12.4m

Quick-growing Monetary Planner and wealth supervisor Kingswood has acquired JFP Holdings Restricted, the mum or dad firm of Cheshire Chartered Monetary Planner JFP Monetary Providers Restricted.

Kingswood has additionally accomplished the acquisition of Lincoln-based monetary adviser JCH, introduced earlier this month.

The double acquisition has been a part of a fast acquisition technique for Kingswood this yr which says it has 4 additional acquisitions within the pipeline.

The 2 latest transactions enhance Kingswood’s client-facing advisory group to greater than 115 folks and funds underneath recommendation/administration to over £8.5bn within the UK & Eire.  

JFP is predicated in Macclesfield, Cheshire and has £360m in Property Underneath Administration. It was established 40 years in the past and primarily providers shoppers in Cheshire, Derbyshire and Staffordshire. The agency’s advisers work with people and medical professionals, companies and their staff.

JFP Holdings manages £360m of consumer belongings for 1,295 shoppers.

Within the yr ending 31 March 2022, JFP generated income of £2.5m and pre-tax revenue of £1.5m.

JFP Holdings can be acquired for a complete money consideration of as much as £12.4m, payable over a two-year interval. As a part of the deal £7.44m can be paid on receipt of regulatory approval and the steadiness paid on a deferred foundation topic to the achievement of pre-agreed efficiency targets.

David Lawrence, Kingswood Group CEO, mentioned: “The acquisition of JFP Holdings will increase our geographical footprint into the Northwest area and an prosperous South Manchester space.

“JFP Holdings are a high-quality enterprise that has operated with its affiliate Josolyne & Co, a Chartered Accountancy observe, for a few years. Led by Andy Heywood, JFP Holdings has a protracted observe document of delivering an distinctive stage of service and robust consumer relationships over a few years and I’m delighted to welcome them to the Kingswood Group.

“Our development technique is essential and we’re strongly dedicated to supporting extra shoppers. Now we have an additional 4 acquisitions underneath unique due diligence that we anticipate to shut within the coming months, plus quite a few extra transactions which might be presently underneath negotiation.”

Andrew Heywood, director of JFP, mentioned: “We’re delighted to be becoming a member of Kingswood. All through the gross sales course of there have been quite a few essential elements that influenced our choice, however the over-riding requirement was for us to have a wonderful matching of cultures with any agency seeking to purchase us.

“The cultural match between our two companies was evident from our first assembly with David Lawrence and has been confirmed all through our dealings with David and his group. We’re wanting ahead to working throughout the Kingswood Group which we all know can be an ideal dwelling for our employees and shoppers.”






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