Wealth Manager - the site for professional investment managers

Register to get unlimited access to 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 Big City Bright Future

Big City Bright Future

Big City Bright Future, the brainchild of BlackRock, is a three-week work experience programme for school leavers looking to forge a career in the City.

Play Kames' Ennett: Trump good for US high yield, but beware Europe

Kames' Ennett: Trump good for US high yield, but beware Europe

Kames Capital’s head of high yield David Ennett believes the changing political landscape will be a positive for the US, but negative for Europe in 2017.

Play Philip Milburn: why inflation won't run out of control

Philip Milburn: why inflation won't run out of control

Kames bond fund manager views inflation as more of 'scare' than a 'problem' and is positioning his portfolios accordingly.

Read More
Your Business: Cover Star Club

Profile: change is the only constant for Quilter Cheviot

Profile: change is the only constant for Quilter Cheviot

This is not the first time we have profiled David Miller, but at the time of his previous appearance his company looked very different.

Wealth Manager on Twitter