The acquisition is Bellpenny’s 24th and involves 100 active clients and £31m of funds under management.
Bellpenny’s CEO Kevin Ronaldson said:
“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 & Angela Gibson commented:
“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.”
