Kingswood acquires Californian wealth management firm to increase US footprint

Will lead to £1.6bn enterprise in US

Lauren Mason
clock
The deal will see Kingswood own and operate key offices in New York, Atlanta and San Diego
Image:

The deal will see Kingswood own and operate key offices in New York, Atlanta and San Diego

Wealth management company Kingswood Group has completed its acquisition of California-based wealth management firm and brokerage Chalice, and has signed "conditional heads of terms" to assume majority ownership in Manhattan Harbor Capital, which will see it running £1.6bn of assets in the US.

Kingswood, which first announced the plans in December 2019, will be purchasing an 85% interest in both Chalice Capital Partners - an independent broker/dealer - and Chalice Wealth Advisors. The remaining...

To continue reading this article...

Join Investment week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space

  • Get ahead of regulatory and technological changes affecting fund management

  • Important and breaking news stories selected by the editors delivered straight to your inbox each day

  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts

  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Wealth managers

The Financial Conduct Authority's headquarters

FCA says Investment Firm Prudential Regime will require individual disclosure

Comes into effect 1 January 2022

clock 26 November 2021 • 1 min read
European Commission publishes recommendations for updated AIFMD and ELTIF regulation

European Commission seeks greater retail participation in update to ELTIF regulation

AIFMD proposals would alter UCITS directive

clock 25 November 2021 • 3 min read
Richard Potter of Quilter Investors

While skin in the game is important, we need beefed-up independent oversight

More emphasis needed on best practice

Richard Potter
clock 25 November 2021 • 4 min read