Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Bellpenny snaps up Glasgow-based advisory firm

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.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Nick Hayes: finding good bonds in negative yield world

Nick Hayes: finding good bonds in negative yield world

Why do some bonds offer 'negative yields' and how do you avoid them? Nick Hayes of AXA Investment Managers explains.

Play Neil Gregson: gold is prettiest in ugly contest

Neil Gregson: gold is prettiest in ugly contest

The JP Morgan Natural Resource fund manager talks about the prospects for gold with plenty of uncertainty in the global economy.

Brewin's Gutteridge & Foster talk property with Standard Life's Baggaley

Brewin's Gutteridge & Foster talk property with Standard Life's Baggaley

Gutteridge and Foster discuss UK commercial property with Jason Baggaley, manager of the Standard Life Property Income investment trust

Your Business: Cover Star Club

Profile: Creechurch Capital’s CEO on going the extra mile in a crowded market

Profile: Creechurch Capital’s CEO on going the extra mile in a crowded market

Growing a business is the main aim of many company owners but managing that growth in a controlled way is just as important

Wealth Manager on Twitter