Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

Wealth firm snaps up four advisory businesses

Wealth firm snaps up four advisory businesses

National wealth manager and IFA consolidator Bellpenny has boosted assets under advice by £300 million after acquiring four IFA firms.

Bellpenny acquired Tunbridge Wells-based Brunning Newman Houghton, Sussex-based Private Portfolio, Essex-based Solutions Financial Services and Nottingham-based Vermillion Wealth.

The four firms are the consolidator's first signed deals following its launch in October 2012 and means it now has more than 2,500 active clients.

Kevin Ronaldson (pictured), Bellpenny's chief executive said: 'These deals mean we have gone from zero to £300 million funds under advice in just three months. With a number of other major acquisitions still in the pipeline, we have a thoroughly exciting 2013 to look forward to.

'It’s no small step for those selling IFA businesses which have been built up over many years, with strong client bonds having been forged. That’s why all the IFAs we’ve dealt with have taken such comfort from Bellpenny’s relentless client-focused ethos, and from the high standards of professionalism they see in every area of our business.'

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 Citywire Scotland: how wealth managers use new tech

Citywire Scotland: how wealth managers use new tech

We caught up with a few wealth managers at our annual event in Gleneagles to find out what technological innovations they are employing across their businesses.

1 Comment Play CEO Tapes: Buxton to Gilbert - ‘my Glencore quandary’

CEO Tapes: Buxton to Gilbert - ‘my Glencore quandary’

Do not miss the first two minutes of this film as Richard Buxton shares how he has been challenged by a client for owning shares in a certain company.

Play CEO Tapes: the huge opportunities for asset managers

CEO Tapes: the huge opportunities for asset managers

From tech disruption, retirement and poaching, the CEO discuss the opportunities for their businesses in this episode.

Read More
Wealth Manager on Twitter