Oaktree’s Bellpenny picks up KMF

The deal marks Bellpenny's 10th acquisition as it continues its strategy to boost its presence as a financial advice brand through an acquisitive strategy. The IFA consolidation vehicle now regroups 30 advisers and has £900m of assets under management.

Bellpenny is a wealth management company launched in October last year. The business was set up in reaction to the new Retail Distribution Review (RDR), new rules implemented by the FSA to better protect consumers in the retail investment market.

Company
Glasgow-based KMF has £48m of funds under management and 250 clients. Its assets are split evenly between its pensions and investments businesses.

People
Kevin Ronaldson is CEO of Bellpenny. Gordon Bannerman is the former majority owner and director of KMF. Dominic Rose is Bellpenny's acquisitions and sales director.

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• Topics
• UK / Ireland
• Financials
• Portfolio management
• Oaktree Capital
• United Kingdom