View more on these topics

Bellpenny acquires Glasgow-based advice firm

Consolidator and national advice firm Bellpenny has acquired Reid, Scott & Ross for an undisclosed sum.

The deal sees more than 1,000 clients and £108m in assets under advice move to Bellpenny, along with four individual advisers.

Earlier this month, Bellpenny acquired Torquil Clark from Skipton, including D2C platform TQ Invest.

The acquisitive national is backed by private equity firm Oaktree Capital.

Bellpenny chief executive Kevin Ronaldson says: “RSR is the third Glasgow-based IFA business we have acquired, following K M Financial Advisers and MGW in the second half of 2013, so we’re building a formidable presence in the city and surrounding area. Our priority now will be ensure an outstanding experience for RSR clients moving across to Bellpenny.”

A statement from RSR co-owners Tony Ross and Paul Angell says: 
“It’s easy to see why Bellpenny is proving to be the acquirer of choice for so many IFA businesses, both north and south of the border. From an IFA owner’s perspective, the whole process of selling the business, from initial contact through to signing on the dotted line, is a well-oiled machine.”

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com