Exhibit 23.2 REPORT AND CONSENT OF INDEPENDENT AUDITORS The Board of Directors Liberty Financial Companies, Inc.: Under date of February 16, 1996, we reported on the consolidated statements of income, stockholders' equity and cash flows for the year ended December 31, 1995 as contained in the 1995 annual report to stockholders. In connection with our audit of the aforementioned consolidated financial statements, we also audited the related financial statement schedules for the year ended December 31, 1995, listed in Item 14(a)2 of the Form 10-K for 1997. These financial statement schedules are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statement schedules based on our audit. In our opinion, such financial statement schedules, when considered in relation to the consolidated financial statements taken as a whole, present fairly in all material respects the information set forth therein. We consent to incorporation by reference in the registration statement (No. 33-90626) on Form S-8 pertaining to the Liberty Financial Companies, Inc. 1990 Stock Option Plan, the Liberty Financial Companies, Inc. 1995 Stock Incentive Plan and the Liberty Financial Companies, Inc. 1995 Employee Stock Purchase Plan and in the registration statement (No. 333-20067) on Form S-3 pertaining to the Liberty Financial Companies, Inc. Dividend Reinvestment Plan of our report dated February 16, 1996, relating to the 1995 consolidated financial statements incorporated herein by reference, and our report included in the preceding paragraph with respect to the 1995 financial statement schedules included in this annual report on Form 10-K of Liberty Financial Companies, Inc. KPMG Peat Marwick LLP Boston, Massachusetts, March 25, 1998