Ascot Lloyd and Bellpenny unite under one banner after £6bn merger

Following their £6bn merger in July of last year, Ascot Lloyd and Bellpenny are combining under the Ascot Lloyd banner to create one unified IFA.

The two companies will now operate wholly as an IFA under the Ascot Lloyd name, the company said in a statement, “following strong demand from both advisers and clients”.

The company said that the re-branding will enable the business to provide a broader product set and that it reflected the group’s ambitious growth strategy as “one of the largest independent wealth managers in the UK”.

Ascot Lloyd chief executive Nigel Stockton said that Ascot Lloyd was a “well-known, trusted and highly regarded” name.

He said that the merger of Ascot Lloyd and Bellpenny had already proven highly successful, “generating strong growth momentum in only a few months”.

We are a highly profitable and fast growing business, underpinned by a great team of advisers,” he added.

“At the heart of our success is a client driven business, and our move to become fully independent is in direct response to what our clients and advisers want, while also allowing us to offer a more comprehensive service.

“We have now established an outstanding platform, with significant scale and a trusted brand.

“Going forward we have considerable opportunities to expand our client base, deepen existing relationships and welcome new, high quality advisers. We look ahead to 2018 with great confidence.”

Following the merger between Ascot Lloyd Financial Services and Bellpenny in July 2017, the business saw strong growth in the second half of the year, the company said.

The combined Ascot Lloyd now has a turnover in excess of £40m, over £6bn in funds under management, 80 personal advisers and 40,000 clients, it added.

Eugene Costello
Eugene Costello has been a journalist for some 20 years, and has written for a wide variety of UK and international newspapers and magazines.

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