Bellpenny buys two IFAs boosting AUM by £187m

Jenna Towler
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IFA consolidator Bellpenny has bought two more businesses with combined funds under management of £187m.

The firm has bought out a total of 15 advisory businesses so far. The two latest deals see pensions and investment IFA Actuarial & Investment Services (AIS), based in North West London, and Birmingham-based The Hammond Consultancy (THC) come under its umbrella. AIS has £75m assets under management and THC £112m. Bellpenny chief executive Kevin Ronaldson said 2014 had got off to a "flying start" for the firm. He added: "The Retail Distribution Review (RDR) was very much the catalyst for the formation of Bellpenny and, 12 months on from its introduction, the reverberations continue t...

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