MWA Financial has announced the acquisition of Kent-based independent financial adviser Knighthood Financial Advice (KFA) for an undisclosed amount.

The acquisition, which expands MWA’s operations across the south east, is the first major deal done by MWA using long-term growth capital provided by private equity house Coniston Capital.

It adds approximately £100m of assets under administration (AUA) to the group, alongside an established office in Kent and a client base of more than 400 households.

Founded in its current form nine years ago by experienced advisers David Tyler, James Richards, and Kevin Howard, KFA had built a reputation for its “quality of advice and ongoing service”, according to MWA.

The three founders and their support staff will remain with the business, which will integrate into and rebrand as MWA Financial Advice with immediate effect.

MWA was launched by chief executive Campbell Banks in 2016, aiming to recreate the holistic advice model prevalent in Australia in the UK.

Coniston Capital took a minority stake in MWA in 2023 in exchange for an injection of growth capital that increased MWA’s acquisition power.

Since then, the firm has been establishing a pipeline of deals and initiatives that aim to increase its AUA to above £1bn.

Commenting on the deal, MWA CEO, Campbell Banks, said: “The acquisition of KFA marks another important milestone for the group and an exciting next step for our growth strategy.

“In addition to a profitable business with a highly engaged and happy client base, we have gained an experienced and efficient team with the ambition, ability and incentive to play a major role in the future direction and growth of MWA.

“It is the perfect example of the kind of business that sits at the heart of our acquisition strategy and we are thrilled to have them on board.”

KFA co-founder, David Taylor, commented: “What Cam, Ed and the team have created at MWA is testament to the considerable experience they have in the sector and the unwavering passion they have for building a market-leading advice business.

“From our earliest conversations there were clear and obvious synergies in both our thinking and business practices that made the decision to agree a deal an easy one.”

---