British wealth manager Bellpenny has acquired Scotland-based Caledonia Edinburgh and Rawson Steele in Midlands.
The buyouts will add £84m in combined assets under management to Bellpenny, bringing its assets up to £3bn.
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As part of the Caledonia Edinburgh acquisition, adviser Lynn Healy will transfer to Bellpenny.
The deals also include the purchase of Midlands-based Rawson Steele IFA from partners Paul Rawson and Brian Steele with FUM of £38m.
Bellpenny CEO Kevin Ronaldson said: "We never underestimate what a big step it is to sell a business which has been years, often decades, in the building. That’s why it’s so rewarding for the Bellpenny team that IFA owners the length and breadth of the UK continue to entrust us with both their legacy and their clients’ futures."
In March, Bellpenny acquired Farnham-based IFA Legal & Professional Services, which added £40m of assets.
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