Your IndustryOct 1 2018

KW Wealth adds £200m with IFA acquisition

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KW Wealth adds £200m with IFA acquisition

KW Wealth has agreed to purchase Beverley-based IFA Marchant McKechnie, bringing an additional £1.4m in annual revenue to the independent wealth management group.

Marchant McKechnie offers advice on a wide range of areas, including personal and company pensions, investments and tax planning. It has about 700 clients and £200m of assets under advice.

The IFA is based in Beverley, East Yorkshire, and will become KW Wealth’s seventh regional presence joining offices in London, Manchester, Cheltenham, Maidstone, Brighton and Worcester.

KW Wealth had rebranded from European Wealth in September this year.

The combined group will have £2bn of Aua, 20 financial advisers and more than 4,000 active clients.

The acquisition is subject to regulatory approval.

Marianne Ismail, CEO of KW Wealth, said: "Marchant McKechnie is a strong addition to the group as we look to build a new national brand in the UK wealth market. The business shares our commitment to delivering high levels of customer service to clients over the long-term.

"The UK wealth market is excessively fragmented, and we believe that there is a substantial market opportunity to build a national brand for quality, independent wealth planning advice and investment management."

Neil McKechnie, founder of Marchant McKechnie, added: "I am delighted that in KW Wealth we have found an owner who shares our philosophy of working in a way that is always centred on what is right for the client.

"KW Wealth has a strong platform that will enable a number of synergies to be realised through the combination of our businesses and we look forward to playing our part in helping KW Wealth achieve their ambition of becoming one of the leading wealth management providers in the UK market."