View more on these topics

Bellpenny buys The County Partnership in biggest acquisition to date

Kevin-Ronaldson-BellPenny-700x450.jpg
Bellpenny chief executive Kevin Ronaldson

National adviser firm Bellpenny has completed its biggest acquisition to date with the purchase of Cheltenham-based financial planning firm The County Partnership for an undisclosed sum.

The deal sees the transfer of around 500 active clients and almost £200m in assets under advice to Bellpenny. It takes the company’s total assets under advice to over £850m, and total individual adviser numbers to over 20.

It follows a series of recent acquisitions including Price Bailey Financial Planning, Foot Davson Financial Services and the IFA arm of Monmouthshire Building Society.

Two directors of The County Partnership, Henry Hodgkins and Andy Thatcher, are joining Bellpenny’s financial planning team, while the remaining director Mark Helmke plans to retire.

Bellpenny chief executive Kevin Ronaldson says: “This is Bellpenny’s biggest acquisition to date. It maintains our strong momentum and, at the current rate of growth, there is every chance we will achieve our end-year target of £1bn assets under advice ahead of schedule.”

Hodgkins says: “There is a clear cultural fit between the two companies. I am confident this will contribute to a smooth client transition process.”

Investment Quorum chief executive Lee Robertson says: “It is nice to see some ambition in the advisory market.”

Recommended

13

FOS complaints about advisers jump 45%

The number of complaints about advisers referred to the Financial Ombudsman Service has jumped 45 per cent over the last year from 2,857 to 4,139. However advisers continued to account for fewer than 1 per cent of overall FOS complaints. The FOS’ 2012/13 annual review, published today, reveals it received a total of 508,881 new […]

Lloyds to make £450m from selling 15% stake in SJP

Lloyds Banking Group will make £450m from selling a further 15 per cent stake in St James’s Place. Lloyds announced it will sell 77 million shares in the firm last week with an offering of 580p after SJP shares rocketed in recent months. In March, Lloyds disposed of a 20 per cent stake in SJP […]

CML ‘positive’ about London’s FTB market despite static year-on-year figures

Advances to first-time buyers in London remained flat year-on-year in the first quarter, although the Council of Mortgage Lenders called the figures “positive” because last year’s figures were boosted by the end of the stamp duty holiday. In the first quarter of this year there were 9,400 loans advanced to first-time buyers in the Greater […]

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