Wealth manager Kingswood has reiterated its goal of buying other firms, regardless of the possible impending recession.

The firm made the announcement as it said it was issuing a fourth tranche of shares to its private equity backer Pollen Street Capital, which has funded its recent acquisitions via a convertible stock arrangement.

The shares were issued in relation to the acquisition of Thomas & Co Financial Services, an Oxfordshire-based IFA which Kingswood purchased in February 2019. Thomas & Co had sat...