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View the article online at http://citywire.co.uk/wealth-manager/article/a723421

Bellpenny snaps up Glasgow-based advisory firm

by Elsa Buchanan on Dec 09, 2013 at 10:31

Bellpenny snaps up Glasgow-based advisory firm

Bellpenny has acquired Glasgow-based wealth manager MGW.

The deal is set to bring £141 million in assets over to Bellpenny for an undisclosed sum, adding to the £1 billion it already oversees.

Bellpenny’s CEO, Kevin Ronaldson (pictured), commented: 'It’s a testimony to the energy and professionalism of the whole Bellpenny team that we’ve been able to sustain such strong deal-making momentum, while also maintaining our operational rigour and strong service ethic on behalf of a rapidly-growing client base.'

MGW, which provides financial advice for clients who are mainly based in the Central Scotland area, represents the second Glasgow-based advisory business purchased by Bellpenny, following its acquisition of K M Financial Advisers in August.

In May it acquired Cheltenham-based financial planning firm The Country Partnership.

The acquisition of the Country Partnership, which has almost £200 million in funds under management, was part of Bellpenny’s goal of hitting £1 billion in assets under management by the year-end.

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