Bellpenny has acquired Berkshire-based IFA Meridan Park Associates for an undisclosed sum, taking total assets under advice to £1bn.
Meridan Park is Bellpenny’s eleventh acquisition to date since the adviser acquisition firm was launched in October 2012.
The deal adds £75m in assets under advice, taking total assets to £1bn. Meridan Park has around 500 active clients.
Bellpenny chief executive Kevin Ronaldson says: “Meridan Park is another excellent fit in terms of our target IFA profile: an established, well-respected firm with a good-quality client base. This acquisition reinforces our already strong presence along the M4 corridor and in the Thames Valley.
“Reaching £1bn in assets under advice is a pleasing landmark on the Bellpenny journey. However quality, not quantity, will be the true measure of our success.”
Meridan Park director Bruce Foskett says: “Bellpenny helped make the whole transaction process far smoother and more painless than I could possibly have imagined. Kevin and his team have displayed the highest standards of professionalism and integrity throughout my dealings with them. This bodes very well for my clients.”
Thameside Wealth director Tom Kean says: “I am sure Bellpenny has done its research and has come to the conclusion that a presence in the Thames Valley makes perfect sense in this new RDR world. It certainly hasn’t escaped Thameside’s radar, with our own sites firmly fixed on this demograph.”