MWA Financial has bought Kent-based advice firm Knighthood Financial Advice for an undisclosed amount.
The acquisition, which is the first major deal done by MWA using funds provided by Coniston Capital, adds around £100mn of assets under administration to the group.
MWA Financial CEO, Campbell Banks, said: “The acquisition of KFA marks another important milestone for the group and an exciting next step for our growth strategy.
“In addition to a profitable business with a highly engaged and happy client base, we have gained an experienced and efficient team with the ambition, ability and incentive to play a major role in the future direction and growth of MWA.
“It is the perfect example of the kind of business that sits at the heart of our acquisition strategy and we are thrilled to have them on board.”
Founded nine years ago by advisers David Tyler, James Richards and Kevin Howard, KFS has “built a reputation for the quality of advice”.
The three advisers and their support staff will all remain with the business, integrating into and rebranding as MWA Financial Advice with immediate effect.
Tyler, said: “What Cam, Ed and the team have created at MWA is testament to the considerable experience they have in the sector and the unwavering passion they have for building a market-leading advice business.
“From our earliest conversations there were clear and obvious synergies in both our thinking and business practices that made the decision to agree a deal an easy one.”
MWA was launched by chief executive Campbell Banks in 2016 with the ambition of recreating the holistic advice model prevalent in Australia in the UK.
Banks has more than 25 years’ experience developing financial advice networks in Australia for the likes of ING, AXA Asia Pacific, and AMP.
tom.dunstan@ft.com
What's your view?
Have your say in the comments section below or email us: ftadviser.newsdesk@ft.com
