British wealth manager Bellpenny has acquired London-based IFA Cranfield Financial Services, adding £196m of funds under management to its portfolio.
The acquisition, considered Bellpenny’s largest one till date, will take Bellpenny’s total assets to £3.5bn.
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Bellpenny acquisitions director Dominic Rose said: "Cranfield is our largest acquisition of the year so far and we will be making further announcements continue shortly as we to grow by acquiring like-minded businesses."
The deal, which is the 29th acquisition by Bellpenny since its inception in October 2012, will also see the addition of four financial planners from Cranfield to Bellpenny.
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