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.

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 Biotech Growth: we will ride out this storm

Biotech Growth: we will ride out this storm

Geoffrey Hsu of Biotech Growth Trust says the sell-off in biotechnology stocks represents a buying opportunity for long-term investors.

Play Sector Spotlight: Kleinwort Benson's Choukeir on UK equities

Sector Spotlight: Kleinwort Benson's Choukeir on UK equities

In our first Sector Spotlight of the year we explore UK equities on the back of the extreme market turbulence in 2016.

Play Picton: the UK property hotspots for rental income

Picton: the UK property hotspots for rental income

Picton Property Income CEO Michael Morris reveals how he is planning to ride the ‘ripple effect’ as UK economic growth spills out from the capital across the country.

Your Business: Cover Star Club

Profile: PortfolioMetrix is on a mission to kill 'Frankenstein' systems

Profile: PortfolioMetrix is on a mission to kill 'Frankenstein' systems

In a buyers’ market for off-the-peg discretionary management, self-funded start-ups begin at an inherent disadvantage

Wealth Manager on Twitter