Wealth manager Bellpenny has made its 24th acquisition with a deal for Winchester-based City Wealth Management Independent Financial Advisers (CWM), a firm with over 100 active clients and GBP31 million of funds under management.
Bellpenny’s CEO Kevin Ronaldson, says: “CWM provides a premium financial planning service to high net worth clients in one of the UK’s most prosperous areas. There will always be keen competition amongst potential acquirers for high-quality, well-managed IFA businesses such as this. It’s a testimony to what we’re building at Bellpenny that more and more sellers of CWM’s pedigree view us as the ideal fit – both for them and their clients.”
City Wealth Management Directors Andrew and Angela Gibson, add: “Our business was founded on the provision of a very personal, tailored service. In assessing the various sale options open to us, the priority was to ensure that clients would benefit from a real sense of continuity in this regard. Of all the companies we spoke to, it was clear that Bellpenny is best-equipped to deliver this. We’ve also been thoroughly impressed by Bellpenny’s vision, its proposition and its people.”
