Financial Planning and wealth management group Kingswood has appointed interim CEO Peter Coleman, former CEO of Positive Solutions, as its permanent CEO six months after the departure of David Lawrence.

Mr Coleman, 55, became interim CEO in July when Mr Lawrence left after four years with the company.

Kingswood has recently tried to dampen down reports the firm would be sold and said a sale is not on the cards.

The appointment of Mr Coleman has been given regulatory approval and he has joined the board of Kingswood as a director. 

Kingswood chairman David Hudd said: "I am delighted to confirm on behalf of the Kingswood board Peter's appointment as the permanent CEO of Kingswood. He came with strong credentials and has built positive momentum since joining the group in July 2024."

Mr Coleman said: "I have thoroughly enjoyed my time with Kingswood so far and we have made strong progress in the last 6-months. 

“Kingswood is a great business with a solid client base, and I am really excited about our potential to continue to grow through putting our clients first with our excellent team of wealth planners, our investment credentials and the support of our skilled and hardworking colleagues."

Mr Coleman is a director of numerous financial services and adviser businesses including AIM Independent Limited, AIM Wealth Holdings Limited, Allotts Financial Services Ltd, Barry Fleming sand Partners (Tax, Trusts and Investment Planning) Limited, Casson Beckman Wealth Management Limited, KW Investment Management Limited, KW Wealth Planning Limited, IBOSS Asset Management Limited, Iboss Limited, Joseph R. Lamb Independent Financial Advisers Limited, Novus Financial Services Limited, Regency Investment Services Limited, Sterling Trust Financial Consulting Limited and Vincent & Co Financial Ltd. 

Mr Coleman’s predecessor David Lawrence steered the company through rapid expansion including over 20 acquisitions. Results from 2024 showed that group revenue was at £86.2m, up 37.7% on last year, while operating profit was £10.8m, up 37.9% year on year. Kingswood employs about 400 staff. 

The firm is mostly owned by private equity firm Pollen Street Capital with AuA/M around £10bn.