The purchase of London IFA Cranfield Financial Services brings in a further £196m of funds under management, and represents Bellpenny’s 29th acquisition since launching in October 2012.
The deal – which also sees the addition of four financial planners – edges Bellpenny’s total FUM up to almost £3.5bn and sees the firm’s financial planner count climb to 74, with Bellpenny acquisitions director Dominic Rose outlining the firm’s intention to continue its ongoing growth plan.
“Cranfield is our largest acquisition of the year so far and we will be making further announcements shortly as we continue to grow by acquiring like-minded businesses,” he said.
“All this underlines that it is full steam ahead for Bellpenny following last week’s CEO succession plan announcement.”
On 3 July Bellpenny announced that CEO Kevin Ronaldson will be succeeded by Nigel Stockton, with Ronaldson due to take up a role as founder director in September.
