The deal represents the wealth manager’s 30th acquisition since launching in October 2012, and takes its financial planner roster to 76.
Bob Bradley and Nick Bird, financial planners and shareholders at Croydon-based Trustee Asset Management, will both join Bellpenny, bringing in client bases worth £157m.
“Our flexible and imaginative approach to acquisitions is again very much in evidence in this deal,” said Dominic Rose, Bellpenny’s acquisitions director.
“Every IFA business is different and every IFA owner has unique personal circumstances and objectives. Here we were able to design a deal structure that met the aspirations of all four TAM shareholders, whilst also ensuring the smoothest of transitions for clients.”
The Trustee AM purchase means that Bellpenny has added FUM worth more than £350m in July alone, coming three weeks after the firm brought in Cranfield Financial Services, its largest acquisition of 2015 so far.
