The move will see the former Kingsworld clients come under the control of Equilibrium Wealth Management, based at Perspective’s office in Marlborough. Kingsworld operated with funds under management of around £26m and a recurring income of £125,000 per annum.
Kingsworld Walder was based in Gillingham under the control of managing director Jeffrey Martina, who has now retired. None of the firm’s existing staff will transfer to Equilibrium.
All of the Kingsworld’s clients have been contacted and will be offered meetings with Equilibrium to make the transition as smooth as possible.
Damian Keeling, managing director of Perspective Financial Group, said: “While most of our acquisitions are of advisory practices which can fit comfortably into the Perspective structure, we are also supporting our regional offices with client bank purchases.
“The deal to bring the Kingsworld Walder client bank within Equilibrium has now been completed and we can begin the work to ensure the transition for those clients is as seamless as possible and that they continue to have access to first-class financial advice.
“Perspective now has a truly national offering and we continue to be interested in talking to any individuals who are still considering their options as we move into this new environment.”
Tony Apps, managing director of Equilibrium Wealth Management, added: “We are continually on the lookout for commercial opportunities to expand Equilibrium and the Kingsworld Walder deal provides us with a client bank which has historically received quality advice and has a need for this to be continued as seamlessly as possible.”
