Kreston Reeves Financial Planning Limited acquired by Craven Street Wealth – announcing a new phase of growth
Kreston Reeves Financial Planning Limited and Kreston Reeves LLP are pleased to announce a new phase in the development of Kreston Reeves Financial Planning to further widen and enhance the scope of financial advisory services provided.
With effect from 2nd March 2021, all shareholdings in Kreston Reeves Financial Planning Ltd have been acquired by Craven Street Wealth Ltd, part of the Craven Street Capital group, a London based corporate finance business with significant experience in the UK financial services sector. Along with a further simultaneous acquisition, these will form the foundations of a new wealth management and financial planning group.
The management team and staff of Kreston Reeves Financial Planning Limited will continue in the financial planning business whilst operating under the same name for up to two years, during which time they will expand investment propositions, introducing a broader range of services, platform technology and systems.
Kreston Reeves Financial Planning Limited has been a successful part of the Kreston Reeves group for over 20 years and an important part of this new arrangement has been to ensure both firms can continue a close working relationship. Both parties are therefore also pleased to announce that a new joint venture agreement has been formed, Kreston Reeves Financial Planning Services Limited. Through this joint venture, clients can access financial planning services to complement Kreston Reeves’ existing accountancy, business advisory and legal services.
Nigel Fright, Managing Partner, Kreston Reeves LLP, said: “Kreston Reeves Financial Planning Limited has been a part of Kreston Reeves for 20 years, offering a range of financial planning and advisory services that complement the personal tax, financial and legal services we provide for our clients.”
“Kreston Reeves Financial Planning has always been a separate legal entity, reflecting the differing regulatory framework required for delivering financial services, and this move allows it to grow and invest more freely in new technology platforms and investment strategies.”
David Hurst, Managing Director, Kreston Reeves Financial Planning Limited said: “Whilst this transaction marks a new and exciting chapter in our history, our clients will continue to receive the same high standards of advice and support they have in the past. Through the relationship with Craven Street Wealth though we will expand our investment propositions, range of services, platform technology and systems whilst keeping costs low through scale.”
Soondra Appavoo, CEO of Craven Street Capital said, “We are delighted to have acquired Kreston Reeves Financial Planning as the cornerstone investment of Craven Street Wealth.
Kreston Reeves Financial Planning is a high quality Chartered Financial Planning firm with a strong reputation across the South East. We plan to work with the team to make further acquisitions over the next few years to create a substantial challenger in the financial planning and wealth management market. We also look forward to maintaining a strong relationship with Kreston Reeves going forward”
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