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Bellpenny hits £1bn mark as acquisitions continue

Kevin Ronaldson, chief executive of Bellpenny, said the purchase of Berkshire-based Meridian Park Associates will help the acquisitive firm to expand its reach along the M4 corridor.

He said: “MPA is another excellent fit in terms of our target IFA profile: an established, well-respected firm with a good quality client base. This acquisition reinforces our already strong presence along the M4 corridor and in the Thames Valley.”

Mr Ronaldson said that reaching £1bn under management was “a pleasing landmark” for Bellpenny.

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The deal brought in £75m worth of funds under management, and is the 11th acquisition by the private equity-backed Bellpenny.

Bruce Foskett, former majority owner and director of MPA, said: “Bellpenny helped make the whole transaction process far smoother and more painless than I could possibly have imagined. This bodes well for my clients, whose financial futures I’m confident to be placing in Bellpenny’s care.”

Background

Bellpenny launched in 2012

It employs 35 advisers.

In August Bellpenny expanded into Scotland after buying Glasgow-based IFA KM Financial Advisers. This added £48m of funds under management and an additional 250 active clients to the business.

Gordon Bannerman, who set up KM Financial Advisers in 1999, said he was looking forward to new challenges after a period of consulting for Bellpenny. He said: “Bellpenny stood out from the crowd of prospective buyers with its clear-sighted vision and unwavering focus on client interests.”