Wealth manager Kingswood has acquired the business and assets of WFI Financial, a Sheffield-based independent financial planner, doubling the size of its wealth planning business.

The acquisition continues Kingswood’s wealth management footprint expansion to the Midlands and the North.

It is expected to increase the group’s earnings immediately.

Kingswood will acquire the WFI book of business for a maximum cash consideration of £14.0 million, which will be payable over a 30-month period. £3.5 million will be due at the acquisition’s completion, which is expected to take place at the end of September 20...