The national wealth manager has acquired the client bases, and associated £157m funds under management, of Bob Bradley and Nick Bird, two shareholders & financial planners at Croydon-based IFA Trustee Asset Management Ltd. Both of them will join Bellpenny as financial planners, thus enabling them to maintain existing client relationships.
This latest deal takes Bellpenny’s total number of acquisitions since launch to 30.
Bellpenny’s Acquisitions Director, Dominic Rose, commented:
“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.
“Having completed two high-quality IFA deals totalling more than £350m of funds under management this month alone, Bellpenny maintains its excellent growth trajectory.”
Bob Bradley & Nick Bird, former Directors of Trustee Asset Management, added:
"We are delighted to be joining forces with Bellpenny. Our clients will benefit from continuity of service and we also feel that they will benefit from Bellpenny’s investment proposition.
"It will be great to have far more time to devote to doing what we enjoy most - advising clients - as we will no longer be distracted by running a business. Meanwhile our former colleagues at TAM are able to pursue their own preferred path.”
