UK-headquartered wealth manager Kingswood has executed the next stage of its expansion plan in the US, launching its brand there.
The firm has become a majority owner in Manhattan Harbor Capital (MHC), a New York and Atlanta-based firm that acquires, consolidates and manages independent broker dealers (IBDs).
Kingswood has rolled two other US firms it owns – investment firm Chalice Wealth Advisors (CWA) and independent broker Chalice Capital Partners (CCP) – into MHC, alongside upping its stake in the latter by 4 percent. This gives it a 50.1 percent stake in the combined group.