REG - Kingswood Holdings - Kingswood's Irish subsidiary acquires BasePlan Ltd

Kingswood HoldingsAnnouncement

06/02/2024 09:00

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RNS Number : 0951C  Kingswood Holdings Limited  06 February 2024

Kingswood Holdings Limited

("Kingswood" or the "Group")

 

MMPI confirms acquisition of BasePlan, adding €130M AuA

 

Kingswood Group assets under advice ("AuA") total over £12 billion from a
combination of both global retail and institutional clients.

 

Kingswood Holdings Limited (AIM: KWG), the international, fully integrated
wealth and investment management group, is pleased to confirm that its Irish
subsidiary, Moloney Investments Ltd ("MMPI"), has completed the acquisition of
BasePlan Ltd ("BasePlan"), a retirement planning advice firm based in Dublin,
Ireland, following regulatory approval.

 

David Lawrence, Kingswood Group CEO commented: "We are delighted that we have
now received regulatory approval to complete the acquisition of Base Plan
Limited. We acquired MMPI in March 2023 with the intention of identifying
acquisition opportunities to help scale the business. We see the Irish market
as rich in opportunity and hope to further add to our MMPI business in the
near future."

 

About BasePlan

 

Based in Dublin, Ireland, BasePlan is a long established and leading financial
advisory firm which has been providing client led financial and retirement
planning and wealth management services for over 30 years. The BasePlan
principals Rhona Burke QFA & Gordon Mellon FCA have successfully grown the
business since inception, they manage client assets of €130m, and have
successfully maintained excellent long term client relationships. Upon
completion there will be a managed handover and some of the team will remain,
allowing for a seamless transition for clients.

 

MMPI's acquisition of BasePlan formed an expected part of Kingswood's
acquisition of MMPI in March 2023. The outstanding funds required for
completion were provided as part of the completion proceeds for MMPI and held
pending receipt of this regulatory approval.

 

About MMPI

 

Established in 1993, MMPI is a leading financial advisory group based in
Dublin which was acquired by Kingswood in March 2023, marking Kingswood's
first step into the Irish Market. MMPI specialises in providing financial
planning, general and protection insurance as well as investments, pension,
and mortgage advice to mass affluent and high net worth individuals. The
acquisition of BasePlan takes Kingswood assets under management in Ireland to
over €1 billion.

 

Bryan Moloney MMPI CEO commented "I am delighted to announce the completion of
the acquisition of BasePlan. It fits well with our culture and purpose, and I
am looking forward to welcoming the BasePlan clients and providing a continued
excellent service as well as the service and technology benefits of our wider
business."

 

ENDS

 

For further details, please contact:

   Kingswood Holdings Limited                                 +44 (0)20 7293 0730
   David Lawrence                                             www.kingswood-group.com (http://www.kingswood-group.com/)
   Cavendish Capital Markets Limited (Nomad & Broker)         +44 (0)20 7220 0500
   Simon Hicks / Abigail Kelly
   Greentarget (for Kingswood media)                          +44 (0)20 7324 5498

   Jamie Brownlee / Ellie Basle                               Jamie.Brownlee@greentarget.co.uk (mailto:Jamie.Brownlee@greentarget.co.uk)

 

About Kingswood

Kingswood Holdings Limited (trading as Kingswood) is an AIM-listed (AIM: KWG)
international fully integrated wealth management group with circa £12
billion of assets under advice and management. It services circa 19k clients
from a growing network of offices across the UK with overseas offices in South
Africa and the US.

Kingswood offers a range of trusted investment solutions to its clients, which
range from private individuals to some of the UK's largest universities and
institutions, including investment advice and management, personal and company
pensions and wealth planning. Kingswood is focused on building on its position
as a leading player in the wealth and investment management market through
targeted acquisitions, creating a global business through strategic
partnerships.

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