M and A
Bellpenny Hits A Record £1 Billion In Assets With Latest Acquisition
Bellpenny, an
Essex-headquartered wealth manager and IFA
acquirer, has acquired Meridan Park Associates, an IFA based in
Newbury, Berkshire for an undisclosed sum.
MPA brings £75 million (around $119 million) of funds under
management, with
assets evenly split between pensions and investment business,
increasing
Bellpenny’s funds to a record £1 billion.
“MPA is another excellent fit in terms of our target IFA
profile: an established, well-respected firm with a good-quality
client base. This
acquisition reinforces our already
strong presence along the M4 corridor and in the Thames
Valley.
Reaching £1 billion under management is a pleasing landmark,”
said Bellpenny’s
chief executive Kevin Ronaldson.
Meridan
Park is Bellpenny’s
eleventh acquisition to date since the adviseo acquisition firm
was launched in
October 2012.