Ascot Lloyd Financial Services and Bellpenny have confirmed they are now a fully independent financial advice firm operating under the Ascot Lloyd name, following a merger last July.
Money Marketing revealed the merger, which created a company with £6bn assets under advice. That merger brought together restricted Bellpenny and independent Ascot Lloyd.
Bellpenny announced in January 2017 that it was launching an independent advice arm, called Bellpenny Independent Advisers Financial Planning.
A statement from Ascot Lloyd says the move to independence followed “strong demand” from advisers and clients.
Ascot Lloyd chief executive Nigel Stockton says: “Ascot Lloyd is a well-known, trusted and highly regarded name and we are excited to go to market under this brand with a fully independent offering.”
He adds: “The merger of Ascot Lloyd and Bellpenny in 2017 has already proven highly successful, generating strong growth momentum in only a few months. We are a highly profitable and fast growing business, underpinned by a great team of advisers.”