Bellpenny completes biggest acquisition to date

Laura Miller
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National wealth manager and IFA acquirer Bellpenny has completed its biggest acquisition to date with the purchase of MDM Associates, adding a further £322m to its funds under management (FUM).

This brings the number of completed Bellpenny deals to date to 17, and follows hot on the heels of another acquisition announced on Monday. The majority of MDM's clients live in London and the Home Counties, and are evenly split between pensions and investment business. MDM was founded in 1997 by Chris Mealing and Tim Demery. Managing director Lisanne Mealing said: "We've been hugely impressed with Bellpenny's service model and people. They are clearly only interested in dealing with firms that can demonstrate an impeccable pedigree and which have a similarly progressive ethos. I'm...

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