Wealth manager Kingswood made a £5.56 million loss in 2019, in what it described as a “repositioning year”.

This compared with the £3.67 million loss it made in 2018.

The firm grew its revenue 34 percent from 2018 to 2019, to £10.05 million, but administrative expenses also grew – by 26 percent to £12.56 million.

Kingwood is the firm previously known as European Wealth and underwent significant changes in 2019 as new managers took control, following the ...