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Bellpenny set to ditch branding following Ascot Lloyd merger

Nigel Stockton

Advice firm consolidator Bellpenny is set to ditch its branding following its merger with Ascot Lloyd last year.

Money Marketing understands the new identity will be under the Ascot Lloyd brand, despite initial claims last year that both companies and Bellpenny’s independent advice arm, BIA Financial Planning, would keep their own branding.

The company would not comment on the plans, but Money Marketing understands an announcement could come as early as next week.

The combined company became one of the largest independently-owned wealth management businesses in the UK when the merger completed in July 2017.

The merged business has £6bn assets under advice and 40,000 clients.

Bellpenny chief executive Nigel Stockton took the helm of the new business and Bellpenny chief financial officer Matthew Moore took on the same role at the new company.

Former Ascot Lloyd chief executive Richard Dunbabin became founder director upon the merger of the independent and restricted brands.

Stockton has said the company remains in the market for acquisitions following the merger.


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