6 days ago
Killarney's Gallivan Financial enters Dublin market through new acquisition
Killarney wealth management firm Gallivan Financial is to acquire Dublin-based Mount Street Group and Tralee-based Kelly O'Shea Pensions & Financial Services.
Financial details of the acquisitions have not been disclosed, but the deal will increase Gallivan Financial's total assets under management (AUM) to more than €650m. With several additional deals currently in exclusivity, Gallivan is now on track to surpass €1bn in AUM by the end of this year.
The acquisition of Mount Street brings Gallivan's business into the Dublin market for the first time. It was the company's third major transaction in the past two years. The acquisition of Kelly O'Shea Pensions & Financial Services, which was its fourth deal, strengthens its position in Kerry.
In 2023, the firm acquired Vincent Casey Life & Pensions, a Killarney-based broker, adding €80m in AUM. This was followed by the acquisition of Limerick-based financial advisory firm FJ Hanly & Associates in September 2024, contributing an additional €100m.
Mount Street Group currently manages more than €150m in assets, while Kelly O'Shea Pensions & Financial Services has €40m in assets under management.
Gallivan Financial is majority-owned by the Gallivan family, who previously sold Gallivan Murphy Insurance Brokers (GMIB) to US-based Assured Partners in 2022 in a deal understood to be worth €100m. Gallivan Financial was not part of that transaction.
Fergal Smith, Gallivan Financial Managing Director, said they were excited to welcome both firms. "Our integration plan is centred around continuity - clients will continue working with the same trusted advisors, while benefiting from the broader resources, technology, and expertise of our combined teams," he said.
"We are continuing to look for further expansion opportunities, as we seek to expand Gallivan Financial into a very significant player in the growing Irish wealth management sector. We are currently in exclusive negotiations with a number of parties and are hopeful of closing further deals before the year-end.'
Marie Ainsworth, founder of Mount Street, which has more than 500 clients, said they reached the point where a decision had to be made on how to develop the business further. "Our options came down to either expanding the business, which would require an investment of capital or, to look to partner with a suitable firm which can provide the resources required," she said.
"After careful consideration, I decided to initiate a process to merge the business with a partner that shared our values and vision when it comes to how we treat our customers, and our standards of service."
Kelly O'Shea Pensions & Financial Services Ltd was founded in 2006 and today, has 320 clients. Founder Aidan Kelly said:
"After nearly two decades building a business grounded in trust and personal service, finding the right partner for the next chapter was incredibly important. From the outset, it was clear that Gallivan Financial shared our values and long-term commitment to clients.
