IFA consolidator and wealth management business Bellpenny has received authorisation from the Financial Services Authority (FSA) today.
The firm also said it has initial IFA acquisition agreements in place totalling £400m of funds under management. A further £600m of deals is in the pipeline, it added.
Chief executive Kevin Ronaldson said the business embraced the core principles and objectives of the Retail Distribution Review (RDR).
"The initial acquisitions are proof of the strength of our proposition and a testament to the quality of the client-facing process that we have been building since we announced our formation and funding back in May," he added.
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