Holborn Financial, the Wimbledon-based IFA firm, has bought Kingsley Financial Management of Whitchurch for an undisclosed sum.
Kingsley was founded by Eamon Keelan nearly 20 years ago and advises 120 private clients with £20mn of assets under advice.
As part of the purchase, Keelan will be retiring with immediate effect.
He said: “As I planned for retirement I knew I could sell my business easily. However, I have both the statutory duty and also a strong personal desire to ensure that all my clients have a smooth and orderly transition to another highly regarded and respected IFA firm.
“To this end, I conducted a rigorous selection process.”
Keelan explained that after a very diligent search, he agreed terms with Emyr Blease, managing director of Holborn Financial, and his team.
“Holborn Financial is a larger firm with greater resources and also one of only 600 IFAs holding Chartered status,” he said.
“I am confident that the ways of working and investment strategy, which are also closely aligned with my own ethos as well as the strong ethical, moral and personal customer service that will be maintained. "
Commenting on the deal, Blease said the firm was delighted Keelan trusted the firm and its team of financial advisers, paraplanners and administrators.
“While we are planning to grow our business by acquisition, we will only do deals with retiring principals who uphold our ethos,” he said.
“Eamon has served his clients very well over the years and it is our duty to ensure they continue to receive the best possible advice and service."
IFA broker Gunner & Co advised Kingsley Financial Management on the deal.
In September 2021, South African wealth manager Alpha Wealth bought a majority stake in Holborn Financial.
The acquisition, for an undisclosed sum, was part of Alpha's plans to grow its presence in the UK.
At the time, Holborn Financial had chartered status and a team of three advisers.
It advised some 150 business owners and private clients with around £150mn of assets under influence.
sonia.rach@ft.com
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