Kingswood Holdings is in the later stages of acquisition negotiations with Regency Investment Services, a Surrey-based IFA. When completed, the deal will be worth £4.6m and will contribute £320m in assets under management to Kingswood, as well as 1,000 clients and six IFAs. Managing director of Regency, Dominique Vinecombe, will be staying on with the firm following the transaction.
CFO and platform chief executive of Kingswood, Patrick Goulding, said: “We are delighted Dominique will remain with Kingswood and continue to focus on delivering exceptional quality service to Regency’s client base.
“The Kingswood model is designed to free Dominique and other advisers to focus on their clients, and provide a centralised, efficient support infrastructure to manage the routine but time consuming tasks required across compliance, finance, human resources, risk and technology.”
In September 2019, Kingswood secured £80m of funding from Pollen Street Capital, which has been used to create what chief executive Gary Wilder calls a “robust pipeline” of prospective deals.
Mr Wilder said: “There is a major opportunity over time to migrate existing and new clients to Kingwood’s extensive and growing range of managed investment solutions on our DFM platform, underpinning the value of a fully integrated wealth and investment management business.”