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    EWG   GG00BKY4K072

KINGSWOOD HOLDINGS LIMITED

(EWG)
  Report
Delayed Quote. Delayed London Stock Exchange - 08/03 11:35:11 am
27 GBX   --.--%
07/26Kingswood Announces CFO Changes
CI
07/26Kingswood Announces Executive Changes
CI
07/26EQUINITI : Kingswood CFO To Step Down, Successor Named
MT
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SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Kingswood : Investor and Analyst Presentation - June 2021

06/17/2021 | 03:22am EDT

POSITIONED FOR GROWTH

I N V E S T O R & A N A L Y S T P R E S E N TAT I O N

JUNE 2 0 2 1

GROUP OVERVIEW

Kingswood Holdings Limited (AIM:KWG) is an international wealth management

platform operating across the UK and US, with 64 advisers serving circa 8,000

clients in the UK and 206 registered representatives across the US

The UK business offers wealth planning and investment management services to

individual clients, and a corporate proposition offering treasury and liquidity

management solutions to large institutions

Kingswood operates a 4 point strategyinternationally for growth:

- Successful acquisition of wealth planning and investment management

firms (5 acquisitions completed in the UK over last 2 years)

- Organic growth, including aggressive recruitment and revenue cross-pollenisation

- Integratingand driving operational efficiency through functional scale

- Leveraging the benefits of vertical integration of its wealth planning

and investmentmanagementcapabilities

Kingswood is focussed on building its international long term strategy centred around

vertical, complimentary, growth business lines in the independent retail wealth sector

from which we can create synergies and maximise recurring fee streams and drive

double digitEBITDAannual growth

Kingswood is majority owned by two directors - Jonathan Massing and Gary Wilder

- through KPI (Nominees)Limited(c.66%)

Regional hubs

Satellite offices

Hull:

26 advisers

Sheffield:

18 advisers

Worcester:

London:

1 adviser

19 advisers San Diego, CA

110 Registered Reps

L3Y share price performance

Operational hubs

OSJ

New York, NY:

96 Registered Reps

Atlanta, GA:

Operational Hub

Pollen Street Capital can subscribe for up to £80 million in the form of convertible

preference shares to support acquisitionswith £45million drawn to date

UK

£4.5 bn

8,000

185

20+

AuA

Clients

Employees

UK acquisition target

pipeline

US

£1.6 bn

+1,000

21

5+

AuA

Relationships

Employees

USacquisitiontarget

pipeline

0.40

Market Cap:

£50m

0.30 Comps on a different slide

0.20

0.10

0.00

2

INVESTMENT CASE

1

Kingswood aspires to be a leading participant in wealth & investment management in the UK, US and

Internationally providingwealth solutions to mass affluent individualsand large corporates

2

Joint UK, US and emerging international footprint allows Kingswood to tap into corridors of wealth

in attractive, fast growing markets

3

Large existing client base provides highly resilient cash flows through the cycle and strong and

robustpipeline opportunities for new client business

4

Solid track record of delivering value to clients through diverse wealth and investment

management solutions

5

Strategic and digital initiatives provide further growth opportunities to an already strong and

robust new business pipeline

6

Highly attractive financial model with strong growth levers and predictablecash flows

7

Rigorous risk management framework with a strong, enterprise-wide commitment to

CorporateSocial Responsibility(CSR) and Environment,Social, and Governance(ESG) principles

3

BOARD & MANAGEMENT TEAM

Board of Directors

Gary

Role: Group Chief Executive Officer

Wilder

Experience: Co-Founder of Kingswood Property Finance Limited Partnership.

30+ years of experience in financial services

Kenneth

Role: Non-Executive Chairman

"Buzz"

Experience: Numerous board positions. Founder and ex-chairman of AIM

West listed wealth manager Ashcourt Rowan

Jonathan

Role: Non-Executive Deputy Chairman

Experience: Corporate finance & acquisitions. Founder of Kingswood Property

Massing

Finance LP and established Kingswood Investment Partners Limited in 1998

Jonathan

Role: NED, Chair of Audit and Risk & Compliance Committees

Freeman

Experience: Extensive experience with listed companies, financial

services and FCA regulated entities

UK Executive Team

David

Role: UK Chief Executive Officer

Experience: Numerous executive leadership positions with Lloyds Banking

Lawrence

Group most recently with Schroders Personal Wealth

Patrick

Role: Group Chief Financial Officer

Experience: 30 years in financial services. Senior roles at Morgan Stanley, Lend

Goulding

Lease, ING & Schroders

Harriet

Role: Chief Operating Officer

Experience: Previously COO of Private Client Investment

Griffin

Management at Charles Stanley

Richard

Role: Chief Risk Officer

Bernstein

Experience: Previously held senior risk roles at Close Brothers

Asset Management

US Executive Team

Howard

Role: NED

Garland

Experience: Partner at Pollen Street Capital, numerous board positions

David

Role: NED

Hudd

Experience: Capital markets specialist, Senior Counsel & former Deputy CEO

of Hogan Lovells

Lindsey

Role: NED

Experience: Co-Founder and Managing Partner of Pollen Street Capital.

McMurray

Chairman of PSC PE & Credit investment committees

Robert

Role: NED

Experience: Co-CEO of UK Agriculture Finance, founder of Global

Suss

Tower Solutions, previously an MD at Goldman Sachs Asset Management

Michael

Nessim

Val Peters Rayevsky

Jeremy

Wilder

David

Martin

Mike Alsoraimi

Role: US Chief Executive Officer

Experience: 24 years in financial services. Previously a registered principal for several independent broker-dealers

Role: US Chief Operating Officer

Experience: Previously branch manager of Office of Supervisory Jurisdiction for an independent broker-dealer

Role: US Chief Legal Officer

Experience: Previously legal counsel for AR Global Investments & Hospitality Investor's Trust

Role: US Co-Chief Compliance Officer

Experience: Previously Chief Executive Officer of American Global Wealth Management & Chief Compliance Officer of Keystone Capital

Role: US Co-Chief Compliance Officer

Experience: Previously TD Ameritrade, AXA & CUSO Financial

Services

4

UK PROPOSITION

Kingswood will "win" by a clear focus on advice and discretionary investment management services, both of which have significant upside opportunity

UK advice market remains ripe for ongoing consolidation

IFA firms by number of advisers employed

Advice

80-100 bps

Advice revenues are sticky and recurring

AuM when attached to an advice

relationship similarly sticky

11%

Discretionary

Integrationof these two elements of the

value chain is Kingswoodprimaryfocus

27,000+

> 5 advisers

Investment

Management

15-25 bps

Platform

20-30 bps

Asset Manager 50-60 bps

Platform services increasingly commoditised and

at lower margins

Winners will have significant scale,

differentiating only by service provided

Kingswood will use its scale to negotiate

leading prices

  • Asset management is highly specialised and under margin and value for money pressures
  • Kingswood will use its scale to negotiate leading prices

IFAs

< 5 advisers

89%

Core consolidation opportunity

  • 89%of UK IFA firms have less than 5 advisers
  • "Three in five financialplanners looking to sell"(1)
  • Advisers looking to retire or lower burden of admin/costs seeking an exit
  • Large pool of potential acquisitions availableto pursue

7

  1. FT Adviser.

Disclaimer

Kingswood Holdings Limited published this content on 17 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 June 2021 07:21:02 UTC.


ę Publicnow 2021
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Financials
Sales 2021 46,9 M 65,2 M 65,2 M
Net income 2021 4,43 M 6,16 M 6,16 M
Net cash 2021 2,00 M 2,78 M 2,78 M
P/E ratio 2021 -
Yield 2021 -
Capitalization 58,6 M 81,4 M 81,5 M
EV / Sales 2021 1,21x
Capi. / Sales 2022 1,05x
Nbr of Employees 206
Free-Float 24,6%
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Kingswood Holdings Limited Technical Analysis Chart | MarketScreener
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 1
Last Close Price 27,00 GBX
Average target price 40,00 GBX
Spread / Average Target 48,1%
Managers and Directors
Gary Spencer Wilder Group Chief Executive Officer & Director
Patrick Joseph Goulding Group Chief Financial Officer
David Glyn Trefor Hudd Chairman
Harriet Griffin Chief Operating Officer
Rupert Mark Thompson Chief Investment Officer & Managing Director
Sector and Competitors