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.”