IFA acqiurer Bellpenny has added more than 1,000 active clients and some £108m in funds under management after acquiring Glasgow IFA Reid, Scott & Ross.
It represents the third Glasgow-based advisory business bought by the Oaktree-backed wealth manager, after deals completed for K M Financial Advisers and MGW last year, and 22nd overall. Its most recent - and largest - buy came last month when it acquired Torquil Clark from Skipton Building Society for an undisclosed sum. That deal brought in some £900m in assets under management, taking the group's total over £2.5bn. Bellpenny's CEO Kevin Ronaldson said: "We're building a formidable presence in [Glasgow] and the surrounding area. Our priority now will be ensure an outstanding experi...
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