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Bellpenny adds £150m with dual advice deal


Adviser consolidation firm Bellpenny has boosted its funds under management by £150m following the acquisition of two more advice firms.

The deal to buy Cambridge-based advice firm Ashton KCJ Financial Planning adds £60m in funds to Bellpenny, while the acquisition of Horsham-basede Principals in Practice boosts FUM by £90m. The price paid for the two businesses has not been disclosed.

The dual deal involves more than 500 active clients and takes the total number of acquisitions made by Bellpenny since launch to 32.

Bellpenny acquisitions director Dominic Rose says: “From outset, we anticipated that our model would have particular appeal to professional services firms looking to recalibrate their approach to financial services, and the Ashton KCJ deal is yet another example of this.

“PIP is a slightly larger business, but shares several characteristics with Ashton KCJ including the high quality of its client base, its affluent catchment area and a similar average portfolio size.

“Clients coming to us from both acquired businesses will continue to benefit from face to face service from financial planners based in their local area.”



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