Wealth manager and Financial Planner Kingswood has completed the acquisition of two financial advisers, increasing its number of active clients in the UK to nearly 16,000.

Kingswood says six more acquisitions are in the pipeline.

The latest completed acquisitions are Money Matters (North East) of Redcar and Lee Smythe & Associates Ltd of Faversham, Kent. The price paid for acquisitions has not been disclosed.

Money Matters (North East) is a firm of independent financial advisers based in the North East. It was formed in 2010 after the directors Alastair Raine and Chris Woodhams left a regional IFA practice. It advises on all aspects of personal Financial Planning, including investments and savings, as well as mortgages, protection and inheritance tax planning.

Lee Smythe & Associates is a local IFA firm based in Kent and trades under the name Smythe & Walter.

Kingswood says the new deals have increased its advisory team to 80 with UK funds under advice or management to £6.3 billion and the number of active clients to over 15,900.

Kingswood Group assets under administration will be boosted to over £7.9 billion including UK and global assets. 

The new deals will see Kingswood acquiring Money Matters (North East) Limited and the book of assets of Lee Smythe & Associates Ltd.

David Lawrence, UK CEO at Kingswood, said "I am thrilled to announce the completion of our second and third acquisitions of 2021 and look forward working with Alastair, Chris, Lee and their teams.''

"We remain committed to our growth strategy within the UK and internationally and we have a strong pipeline of high-quality UK opportunities under negotiation, six of which are in the exclusive due diligence stage.