National wealth manager and IFA acquirer Bellpenny has completed the acquisition of Hansen Lloyd Asset Management (HLAM) in a deal involving £75m of funds under management (FUM).
HLAM is based in Colchester with the majority of clients based in and around the Essex area. The acquisition brings Bellpenny's total number of IFA transactions to date to 18. Its last deal in March, the purchase of MDM Associates, added a further £322m to FUM, the biggest acquisition to date. Bellpenny chief executive Kevin Ronaldson said: "Bellpenny's business model hinges on providing continuity of service and care. For Hansen Lloyd clients this will translate into to a highly personal, professional service delivered by locally-based planners. "We're naturally pleased with our c...
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