National wealth manager, Bellpenny, has acquired Monmouthshire Independent Financial Advisers (MIFA), a subsidiary of Monmouthshire Building Society.
The deal has seen Bellpenny acquire more than 2,000 active clients and funds under management in excess of £100m.
This announcement follows four acquisitions last week, and takes Bellpenny up to £400m in funds under management, according to the company.
Bellpenny said it would "implement a seamless transition process for existing MIFA clients, which will include a dedicated integration programme, where existing MIFA clients will continue to benefit from a full financial advice service".
As part of the deal, Monmouthshire Building Society customers will still have access to professional financial advice, available from all its branch offices, where an appointment can be made with the local Bellpenny Financial Adviser.
Andrew Lewis, managing director of Monmouthshire Building Society, said:
"Monmouthshire IFA has experienced rapid growth over the past five years and in an increasingly regulated environment it was decided that the ongoing needs of its customers would be better served as part of an organisation that specialises in this area."
Bellpenny chairman Grenville Turner said: "Closing a deal of the size and stature of MIFA so soon after launch shows the UK advisory market that we really do mean business and puts down a clear marker for the future."
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