Bellpenny makes 24th wealth management acquisition

Bellpenny has acquired financial advisory group City Wealth Management (CWM) as it continues to consolidate smaller wealth management businesses.

The firm, based in Winchester, is the 24th acquisition by Bellpenny since it was founded in October 2012. The CWM deal encompasses 100 active clients and £31m funds under management. Bellpenny chief executive 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 th...