Wealth manager and Financial Planner group Kingswood Holdings has confirmed the potential sale of the company’s UK business operations.

It has engaged investment bank Houlihan Lokey as its financial adviser for any deal.

In a Stock Exchange statement this morning it said that, “discussions have taken place with regard to its strategic options, including, but not limited to, a potential sale or third party investment into the Company's UK business operations.”

It added that: “There can be no certainty that any transaction will ultimately occur, nor to the structure or terms on which any transaction might take place.”

In the statement the company added that it, “continues to enjoy the long-term support of its key existing investors and shareholders and continues to deliver accelerated growth and strong delivery against its strategy.”

The company's results for the year ended 31 December 2022 are expected to be published during Q2 2023.

Kingswood is an AIM-listed wealth manager with £10bn of assets under advice and management.

It has acquired numerous UK and US Financial Planning and Wealth Management firms in recent years including Berkshire-based Financial Planner Barry Fleming & Partners for £6.2m in January and JFP Holdings Limited, the parent company of Cheshire Chartered Financial Planner JFP Financial Services Limited, for £12.4m in December.