Business & Investment

Kingswood expects annual revenue to surge 488%

Kingswood Holdings’ annual revenue surged 488% as Wealth Manager posted record results after a series of recent acquisitions.

  • Kingswood has increased its annual revenue by 488% over the past year.
  • The company has made many acquisitions in the last few months

Kingswood Holdings, a financial planner and wealth manager, increased its revenue by 488% to £ 149.7 million in the year to December 31, 2021.

The Group’s operating profit increased £ 5.5 million to £ 6.3 million, revealing its latest annual results.

The company said its earnings were supported by inorganic growth following “successful integration of acquisitions in the UK and growth in the US.”

Soaring: Kingswood Holdings has increased its revenue by 488% to £ 149.7 million over the past year.

Kingswood stock It rose today and rose 3.88% or 0.94p to 25.14p in early morning trading.

The company’s total assets under management and advice were £ 6.8bn, up 15% year-on-year. According to Kingswood, 10% of growth was organically driven and 5% was due to acquisitions.

The group has completed nine UK acquisitions since August 2021, with annual operating income of £ 5.1 million and an increase in assets under management and advice of approximately £ 2.6 billion.

The company also made a number of acquisitions earlier this year. Acquired Allots Financial Services, Joseph R Lamb Financial Advisers, DJ Cooke Life and Pensions, AiM Independent Financial Advisors, Vincent & Co Ltd.

The company added that eight more acquisitions are currently in “exclusive due diligence.” With these eight acquisitions in progress, annual operating income is expected to total £ 7.7 million and is expected to close in the third quarter of 2022.

Kingswood Chairman David Had said:

“I am very proud of our dedicated team that has overcome the ongoing challenges of the Covid-19 pandemic throughout 2021 while providing outstanding service to our clients in the United Kingdom and the United States.

“Despite the challenges we faced, we are pleased to report record levels of revenue and operating income that have achieved significant growth in wells planning, investment management, and across the United States.

“We have a strong and well-capitalized balance sheet and are benefiting from our partnership with Pollen Street Capital, which is currently investing £ 77.4m to enable acquisitions and growth strategies.”


Kingswood expects annual revenue to surge 488% Kingswood expects annual revenue to surge 488%

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