International wealth management group Kingswood acquires Yorkshire-based Allotts Financial Services Limited

AFS is a long established financial advisory firm based in Rotherham which serves clients primarily in South Yorkshire.

David Lawrence, UK CEO at Kingswood, commented: "I am delighted to be welcoming the AFS team to Kingswood. Allott’s has a great reputation for serving clients over many years and is a great addition to Kingswood’s existing footprint in the wider Sheffield region. After this acquisition is concluded we will have 13 advisers meeting their client financial advice and investment needs.

“We remain committed to our stated growth strategy within the UK and internationally. This is our second acquisition of 2022 and we continue to have a strong pipeline of high-quality UK opportunities under negotiation, five of which are in exclusive due diligence as we continue to grow our financial planning and investment management reach across the UK.”

Established in 1998, AFS provides independent financial advice to more than 400 active clients and currently employs three advisers.

Neil Highfield, speaking on behalf of AFS commented: “I feel this is an important and positive step forward for Allotts Financial Services. Kingswood share our own values and beliefs around providing an excellent service to clients and they will hugely benefit from their large support network and expertise in the financial services industry.’’