Bellpenny acquires Essex-based IFA

IFA Consolidator firm Bellpenny has acquired Essex-based IFA business Unizone.

The buy is Bellpenny’s 22nd acquisition and sees it take on a firm with around 2,000 active clients and £330m assets under management split between pensions and investment business.

Unizone has some 20 support staff alongside its 8 financial planners and will now be rebranded as Bellpenny following the deal.

Bellpenny’s total assets are now £2.8bn and the firm has 54 financial planners.

Bellpenny chief executive Kevin Ronaldson says: “It is no coincidence that we’ve completed two of our largest deals to date – Unizone and Torquil Clark – within the last couple of months. In the immediate aftermath of the RDR it seemed mainly to be smaller firms considering their exit options.”

Unizone chief executive Neil Donnelly says: “We’re proud to have built Unizone into one of the leading IFA businesses in South East England, helping thousands of clients manage their money and secure their financial futures along the way. However, my fellow Directors and I concluded that the time was right to join forces with a much larger wealth management organisation.”