Bellpenny has acquired a Glasgow-based firm with £108 million of funds under management.
The group has bought advisory business Reid, Scott & Ross, which has more than 1,000 active clients.
The deal is Bellpenny third in Glasgow, following the acquisitions of K M Financial Advisers and MGW in the second half of 2013.
‘We’re building a formidable presence in the City and surrounding area,’ commented Bellpenny chief executive Kevin Ronaldson (pictured).
‘Our priority now will be to ensure an outstanding experience for Reid, Scott & Ross clients moving across to Bellpenny.’
Tony Ross and Paul Angell, co-owners of Reid, Scott & Ross, added: ‘It’s easy to see why Bellpenny is proving to be the acquirer of choice for so many IFA businesses, both north and south of the border.
‘They’ve taken full advantage of the opportunity to build a post-RDR business from first principles, with the client right at its heart. And from an IFA owner’s perspective, the whole process of selling the business, from initial contact through to signing on the dotted line, is a well-oiled machine.’