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Worldwide buys Kingsmead IFA and sets out its plan to move into top 50

Cornwall IFA Worldwide Financial Planning has bought Kingsmead IFA in a deal that brings the number of its offices to seven.

The acquisition will add £0.5m turnover to Worldwide which says it is on course to achieve its £3m turnover target by the end sof the year.

Kingsmead&#39s six RIs bring the total number of advisers across life, pensions and mortgages to 35. The firm, which has former Misys head of marketing and Sesame sales director Andy Bedford as its chairman, is aiming to become a top 50 IFA.

Worldwide has not disclosed how much it paid for the firm, which has over 5,000 clients, and says it is in takeover talks with other IFAs.

Worldwide managing director Peter McGahan says: “IFAs of our size have to grow gross revenue and profits to continue to provide excellent service and advice. Worldwide is on track to be in the top 50 IFAs in turnover within two years.”

Kingsmead director Roy Loader says: “We wanted to develop our team within an environment that was passionate about quality advice but had clear commercial goals.”

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