Bellpenny and Ascot Lloyd have joined forces to form one of the largest independently-owned wealth management businesses in the UK.
The transaction was completed on 1 July for an undisclosed sum, with both businesses owned by global alternative investment management firm Oaktree Capital Management. This new combined business also incorporates BIA Financial Planning, the independent advice arm of Bellpenny. The brands of all three businesses will remain. The merger has created a firm with over 100 advisers looking after 40,000 fee-paying clients. Bellpenny FUM tops £3bn after double acquisition Nigel Stockton, CEO of Bellpenny, will become CEO of Ascot Lloyd Bellpenny, while Bellpenny's chief financial office...
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