News

1
Feb

Oxfordshire adviser purchased for £3.3m

Thomas & Co Financial Services, based in Oxfordshire, has been purchased for £3.3m by Kingswood Holdings. Thomas & Co has £150m of assets under advice and provides pension, investment and tax-planning services to individuals and firms.
Kingswood chief executive, Gary Wilder, spoke about the acquisition.
“Our strategy remains firmly focused on seeking opportunities, domestically and internationally, to drive growth in revenue and assets under management and advice, through acquisition and by attracting best in class wealth and investment talent to the Kingswood platform.
“We have a strong pipeline of opportunities we are currently evaluating. Access to products such as our enhanced Managed Portfolio Service, which we have also announced today, as well as the rigour and discipline of our investment process, makes us an attractive partner to firms such as Thomas & Co.
“I want to welcome the excellent team at Thomas & Co to Kingswood, and we look forward to working with them.”
The conditions of the transaction include an initial cash payment of £1.5m, with the remaining £1.8m deferred over a three year period, subject to performance, with Thomas & Co staff and principals transferring to Kingswood.
Joe Berry, principal at Thomas & Co, commented:
“Kingswood is a very similar firm to us, with a strong commitment to protecting client’s wealth and providing first-class advice, with the emphasis on face-to-face personal service.
“They also give us access to an array of innovative investment products and services beyond those readily available to our private clients.”