m&a

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

Aberdeen Asset Management will consider additional acquisitions following its purchase of Scottish Widows Investment Partnership (SWIP) last year, chief executive Martin Gilbert has said.

Pioneer Investments has reached an agreement to merge with Santander Asset Management, creating one of the largest European asset management groups by AUM.

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Brewin Dolphin has been named as a prime candidate to join the wealth management M&A merry-go-round by broker Liberum Capital.

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

UK-listed energy stocks have rallied strongly in early trading as investors look for more M&A activity in light of Shell agreeing a £47bn takeover of BG Group.

Tavistock Investments has bought IFA Sutcliffe Solloway Financial Planning and its parent Cornerstone Asset Holdings.

Aberdeen Asset Management has made a £38.3m top-up payment to Lloyds Banking Group for Scottish Widows Investment Partnership (SWIP), which it acquired last year.

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