British wealth manager Bellpenny has completed the acquisition MDM Associates, bringing the number of completed deals to 17.
The acquisition includes £322 million of funds under management with the majority of clients from London and the Home Counties.
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Bellpenny claims that there is an even split between pensions and investment business.
Commenting on the transaction, Bellpenny CEO Kevin Ronaldson said that this is the biggest deal the company has completed to date and is all the more notable because MDM has long been established as one of the foremost IFA businesses in the south of England.
"Clients transferring across Bellpenny will rightly have very high expectations that we will maintain the high standard of care they’ve become accustomed to and we will spare no effort in delivering on this," added Ronaldson.
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