The acquisition, Bellpenny’s 23rd, involves 500 active clients and £40m of funds under management.
Bellpenny’s CEO Kevin Ronaldson commented:
“When Bellpenny buys any IFA business we are all too well aware that we must justify the huge amount of faith and trust that is being invested in us by the seller. Somehow this responsibility feels all the greater when, as in this instance, a single individual has set up, grown and cultivated the business over a period of many years. I can assure David that, in taking up his mantle, we will spare no effort in nurturing the excellent client relationships that are so much in evidence in his company.”
David Sowerbutts, former owner of Legal & Professional Services, said:
“The UK financial services industry is almost unrecognisable from when I went into it 30 years ago. Thankfully, one thing that hasn’t changed is that a successful financial planning business is still fundamentally about building long-term client relationships and trust. Of all the prospective buyers I spoke to Bellpenny stood out from the crowd in this respect, and I am relieved to know that my clients will be in good hands.”
