Kingswood announces £6.2m Barry Fleming & Partners acquisition

Finance

By Sam Pither

19 December 2022

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Investment advisory firm Kingswood Group has acquired Berkshire-based tax, trusts and investment planning firm Barry Fleming & Partners in a deal worth £6.2 million, subject to regulatory approval.

The deal brings Kingswood’s total global funds under advice or management to £11.3 billion, with £9 billion of that in the UK and Ireland from a combination of retail and institutional clients.

Barry Fleming, Chairman of Barry Fleming & Partners, said: "We have spent time looking to work with a company that can take on our legacy, build on the success of Barry Fleming & Partners as well as understanding the depth of relationships and care we have with our clients.

“Kingswood's ethos of putting their clients at the forefront of their service proposition dovetails with our own culture of providing a valued service and excellent advice."

Lisa Chantrey, Managing Director of Barry Fleming & Partners, said: "The whole team are incredibly excited to be working with Kingswood. Kingswood will offer us the platform to grow and develop our legacy.

“The changing times of financial planning and regulation are burdensome for smaller companies and the move to work with Kingswood will help spread the load of regulation and administration. The team remains unchanged and the move will allow us to concentrate even more of our time on our clients - a central experience at Barry Fleming and Partners."

The deal will be completed over two years and will see the consolidator acquiring the firm’s 415 clients, who have more than £140 million in collective assets under management.

David Lawrence, Kingswood Group CEO, said: "Barry Fleming & Partners has a deep rich history and has established itself as a reputable, dynamic and client centric business over the past 47 years. The depth of relationships with their clients is truly evident through their extensive reputation. Extending into Berkshire is a further acknowledgement of our desire to grow our footprint.

“Our growth strategy is important and we are strongly committed to supporting more clients. We have a further three acquisitions under exclusive due diligence that we expect to close in the coming months, plus additional transactions that are currently under negotiation."

By Sam Pither

Sam is the Regional Editor of Biz News, responsible for both Hampshire and Dorset.

A new recruit to journalism, Sam started writing for the Business Magazine as a freelancer in May of 2022 after completing his degree in English at University College London. His passion for local businesses and ability to tell a story soon caught the attention of the publication’s management team and have led to his meteoric rise.

Sam, who lives in central Reading, takes a particular interest in technology, gaming and food and drink, having been a chef before starting his degree.