Bellpenny FUM tops £3bn after double acquisition

National wealth manager and consolidator Bellpenny has acquired two IFA firms with a combined £84m funds under management (FUM).

The purchases bring Bellpenny's managed assets to more than £3bn, as its deals to date reach 26. The firm has added £46m FUM firm Caledonia Edinburgh Limited and adviser Lynn Healy to its newly opened Scotland hub. It has also bought Midlands-based Rawson Steele IFA from partners Paul Rawson and Brian Steele with FUM of £38m. Bellpenny previously acquired Farnham-based IFA Legal & Professional Services in March, which added £40m of assets. Bellpenny chief executive Kevin Ronaldson said: "We never underestimate what a big step it is to sell a business which has been years, often ...