Bellpenny has increased its assets under management to almost £750m with the acquisition of Gloucestershire-based firm The County Partnership.
Kevin Ronaldson, chief executive of the national wealth manager, said the deal for the firm brought with it almost £200m in funds under management, and was its largest single transaction to date.
He said: “This acquisition maintains our strong momentum and ensures, at the current rate of growth, that there is every chance we will achieve our year-end target of reaching £1bn in funds under management ahead of schedule.”
Two of The County Partnership’s three owner-directors, Henry Hodgkins and Andy Thatcher will join Bellpenny’s financial planning team, while fellow director Mark Helmke will retire. The firm’s current offices in Cheltenham will be retained by Bellpenny.
Adviser view
Henry Hodgkins, director of The County Partnership, said: “Bellpenny ticked all the key boxes including business model, client focus and financial backing. More than anything, however, this deal came to fruition because of the clear cultural fit between the two companies.”
Background - The new addition increases Bellpenny’s advisers to more than 20. - The firm was launched last year with a restricted advice proposition, backed by investment management firm Oaktree. |
