National advice business Bellpenny has acquired a Surrey-based IFA, adding 500 active clients and £40m in assets.
The business, which specialises in consolidation and has completed more than 20 deals since launch in late 2012, has bought IFA Legal & Professional Services, which operates in Farnham. Following completion, current IFA Legal & Professional Services owner and chief executive David Sowerbutts is to retire from an industry he described as "unrecognisable" from the one he joined 30 years ago. His company employs one other adviser and one member of support staff, neither of whom will be joining Bellpenny. Bellpenny CEO Kevin Ronaldson said: "When Bellpenny buys any IFA business we are ...
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