Bringing you live news and features since 2006 

Bellpenny completes two more IFA deals, increasing FUM by over GBP150m

RELATED TOPICS​

Bellpenny announced today that it has completed two more transactions involving IFA businesses bringing combined funds under management of over GBP150m and more than 500 active clients.

The deals take Bellpenny’s total number of acquisitions since launch to 32.
 
The acquisition of Cambridge-based IFA, Ashton KCJ Financial Planning LLP, encompasses around GBP60m of funds under management. The business was jointly owned by Ashton KCJ Solicitors and Price Bailey LLP.
 
The second purchase is that of Horsham-based IFA, Principals in Practice Limited (PIP) and involves GBP90m of funds under management.
 
Bellpenny’s Acquisitions Director Dominic Rose (pictured), says: “From outset, we anticipated that our model would have particular appeal to professional services firms looking to recalibrate their approach to financial services, and the Ashton KCJ deal is yet another example of this.
 
“PIP is a slightly larger business, but shares several characteristics with Ashton KCJ including the high quality of its client base, its affluent catchment area and a similar average portfolio size.
 
“Clients coming to us from both acquired businesses will continue to benefit from face to face service from financial planners based in their local area.”
 
Alan Brown of Ashton KCJ Solicitors, says: “Once we had taken a strategic decision around the future of Ashton KCJ Financial Planning LLP, our focus was firmly on ensuring that existing clients, and any referred in the future, would receive the high level of individual service they expect and deserve. We were confident that Bellpenny is in a strong position to deliver this client-centred advice and service.
 
“We feel it is especially important that clients will continue to be looked after by locally-based advisers, so this was another thing that helped to seal our decision to go with Bellpenny.”
 
Erik Sorensen, Director of Principals in Practice Limited, says: “We’re proud to have helped many people work towards and ultimately achieve their financial goals over the years, while at the same time forging close bonds with our clients. In considering our sale options, it was therefore of paramount importance to us that the high level of care, service and professionalism our clients have enjoyed from PIP would be sustained into the future.
 
“Of the prospective buyers we spoke to, it was clear that Bellpenny has the ideal ethos and infrastructure to carry on our work. We have full confidence that they will continue to deliver to our clients’ highest expectations.”  

Latest News

REX Shares has announced a strategic reorganisation that integrates its REX Shares, MicroSectors, and T-REX products, as well as REX..
Allspring Global Investments writes that as it builds an investment platform for the future, it has filed for exemptive relief..
LSEG Lipper writes that ETF promoters in Europe enjoyed estimated net inflows (+EUR25.1 billion) for May 2024...
The European Fund and Asset Management Association (EFAMA) has published its 2024 industry Fact Book, which includes a foreword by..

Related Articles

Marcus Wayerer, Franklin Templeton
Franklin Templeton says that emerging markets are navigating a tricky environment at the moment, due to factors such as the...
Matt Barry, Touchstone Investments
Back in 2022, Cincinnati, Ohio-based Touchstone Investments launched its first four ETFs, having previously been predominantly a mutual fund company....
CN Tower, Toronto
The winners were announced in the second ETF Express Canadian awards at the event held at The Quay in Toronto,...
Darren Jordan, Komainu
Custody specialist, Komainu, was launched in 2018 as a joint venture between Nomura, digital-asset investment manager, CoinShares and blockchain business,...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by