Ascot Lloyd Bellpenny acquired Leeds-based advice firm Pantheon Financial in the week leading up to Christmas, a series of Company House filings published this week reveals.
Ascot Lloyd Bellpenny refused to comment on the acquisition, but Companies House filings from 3 January show chief executive Nigel Stockton and chief financial officer Matthew Moore became directors of Pantheon Financial on 22 December.
CPL Bidco, a private limited company registered at the same address as Bellpenny’s head office, became a person with significant control on the same date. Moore and Stockton are both registered as officers with that company.
A statement of capital filing shows the total value of shares at £5,986,882.
Further documents also published this week show Pantheon chief executive James Kaberry ceased to be a person with significant control on 22 December. Kaberry acquired the firm from Friends Provident in 2010.
The acquisition is the first since Bellpenny and Ascot Lloyd merged last July, creating one of the largest independently-owned wealth management businesses in the UK.
Stockton stated at the time of the merger that the business remained in the market for bigger but fewer deals.
Stockton and Moore have also become directors of three subsidiaries that make up the Pantheon group: Pantheon Financial Investments, Pantheon Financial Management, and Connect Wealth Management.
Financial advice and corporate services business Pantheon Financial Management has 1,000 clients, while investment solutions provider Pantheon Financial Investments has around 10,000 customers. Connect Wealth Management provides bespoke financial planning for high net worth individuals, families and business owners.
The changes come as Bellpenny looks to shed its name and operate under the Ascot Lloyd brand.