Last checked at 6 Feb 2024 09:00
Kingswood Holdings Limited
("Kingswood" or the "Group")
MMPI confirms acquisition of BasePlan, adding ?130M AuA
Kingswood Group assets under advice ("AuA") total over £12 billion from a combination of both global retail and institutional clients.
Kingswood Holdings Limited (AIM: KWG), the international, fully integrated wealth and investment management group, is pleased to confirm that its Irish subsidiary, Moloney Investments Ltd ("MMPI"), has completed the acquisition of BasePlan Ltd ("BasePlan"), a retirement planning advice firm based in Dublin, Ireland, following regulatory approval.
David Lawrence, Kingswood Group CEO commented: "We are delighted that we have now received regulatory approval to complete the acquisition of Base Plan Limited. We acquired MMPI in March 2023 with the intention of identifying acquisition opportunities to help scale the business. We see the Irish market as rich in opportunity and hope to further add to our MMPI business in the near future."
About BasePlan
Based in Dublin, Ireland, BasePlan is a long established and leading financial advisory firm which has been providing client led financial and retirement planning and wealth management services for over 30 years. The BasePlan principals Rhona Burke QFA & Gordon Mellon FCA have successfully grown the business since inception, they manage client assets of ?130m, and have successfully maintained excellent long term client relationships. Upon completion there will be a managed handover and some of the team will remain, allowing for a seamless transition for clients.
MMPI's acquisition of BasePlan formed an expected part of Kingswood's acquisition of MMPI in March 2023. The outstanding funds required for completion were provided as part of the completion proceeds for MMPI and held pending receipt of this regulatory approval.
About MMPI
Established in 1993, MMPI is a leading financial advisory group based in Dublin which was acquired by Kingswood in March 2023, marking Kingswood's first step into the Irish Market. MMPI specialises in providing financial planning, general and protection insurance as well as investments, pension, and mortgage advice to mass affluent and high net worth individuals. The acquisition of BasePlan takes Kingswood assets under management in Ireland to over ?1 billion.
Bryan Moloney MMPI CEO commented "I am delighted to announce the completion of the acquisition of BasePlan. It fits well with our culture and purpose, and I am looking forward to welcoming the BasePlan clients and providing a continued excellent service as well as the service and technology benefits of our wider business."
ENDS
For further details, please contact:
Kingswood Holdings Limited | +44 (0)20 7293 0730 |
David Lawrence | www.kingswood-group.com |
Cavendish Capital Markets Limited (Nomad & Broker) | +44 (0)20 7220 0500 |
Simon Hicks / Abigail Kelly | |
Greentarget (for Kingswood media) Jamie Brownlee / Ellie Basle | +44 (0)20 7324 5498 Jamie.Brownlee@greentarget.co.uk |
About Kingswood
Kingswood Holdings Limited (trading as Kingswood) is an AIM-listed (AIM: KWG) international fully integrated wealth management group with circa £12 billion of assets under advice and management. It services circa 19k clients from a growing network of offices across the UK with overseas offices in South Africa and the US.
Kingswood offers a range of trusted investment solutions to its clients, which range from private individuals to some of the UK's largest universities and institutions, including investment advice and management, personal and company pensions and wealth planning. Kingswood is focused on building on its position as a leading player in the wealth and investment management market through targeted acquisitions, creating a global business through strategic partnerships.