acquisition

Bellpenny, the national wealth manager and IFA acquirer, has acquired Essex-based Personal & Corporate Financial Solutions (PCFS).

IFG group - parent company to independent wealth managers Saunderson House and self-invested personal pension (SIPP) provider James Hay - has sold its IFA arm for £9.1m.

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Purchasers of IFA businesses are taking advantage of a "once in a lifetime land grab" as the impact of increased regulation pushes traditional advisers out the industry, according to a consultancy firm.

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Davy Private Clients, the Northern Ireland-based wealth management and financial planning division of J&E Davy (Davy), has agreed to acquire Square Seven Financial Planning, part of a two year acquisition spree.

Ashcourt Rowan has completed the acquisition of Generali Portfolio Management (UK), a deal which gives the group an additional £215m in discretionary assets under management.

Wealth manager Towry will accelerate its acquisition programme in 2014, with plans to buy as many as ten businesses, its head of wealth advice has said.

IFA consolidator Bellpenny has bought two more businesses with combined funds under management of £187m.

Savvy IFAs looking to offload their businesses in the New Year are building up their profits to entice buyers rather than relying on selling on a recurring trail basis, according to a consultancy that deals in adviser merger and acquisitions.