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Bellpenny Acquires Four UK IFA Businesses, Looks For More
UK wealth manager Bellpenny, which launched in September 2012, has completed the purchase of four independent financial advisor businesses.
The acquired businesses - Brunning Newman Houghton, Private
Portfolio, Solutions Financial Services and Vermillion Wealth -
have combined funds under management in excess of £300 million
(around $480 million) and more than 2,500 active clients.
“I have every confidence that many more IFA acquisitions will follow over the coming months as the full impact of the RDR is felt across the UK financial advice industry,” Bellpenny’s chairman, Grenville Turner, said in a statement.
