Bellpenny continues acquisition drive with latest IFA takeover

National wealth manager Bellpenny has continued to expand its business with a further acquisition of an IFA with £40m in funds under management.

The group has bought Farnham-based IFA Legal & Professional Services, which has 500 active clients. This is the wealth manager's 23rd acquisition and follows its move last August to buy Skipton's £900m wealth arm, Torquil Clark. In September, Bellpenny's FUM stood at £2.5bn, just two years after opening its business. CEO Kevin Ronaldson (pictured) said: "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 t...