Bellpenny completes £108m FUM purchase of Glasgow IFA Reid, Scott & Ross
1 September 2014. Bellpenny, the national wealth manager and IFA acquirer, announced today that it has completed the acquisition of the Glasgow-based IFA Reid, Scott & Ross (RSR). The deal involves more than 1000 active clients and £108m of funds under management.
Bellpenny’s CEO Kevin Ronaldson commented:
“RSR is the third Glasgow-based IFA business we have acquired, following K M Financial Advisers and MGW in the second half of 2013, so we’re building a formidable presence in the City and surrounding area. Our priority now will be ensure an outstanding experience for RSR clients moving across to Bellpenny.”
Tony Ross & Paul Angell, Co-Owners of Reid, Scott & Ross said:
“It’s easy to see why Bellpenny is proving to be the acquirer of choice for so many IFA businesses, both north and south of the border. They’ve taken full advantage of the opportunity to build a post-RDR business from first principles, with the client right at its heart. And from an IFA owner’s perspective, the whole process of selling the business, from initial contact through to signing on the dotted line, is a well-oiled machine.”