Bellpenny’s new chief executive has revealed the company has acquired two more firms and plans to take over fewer but bigger businesses in 2016.
Nigel Stockton, who has taken over the helm from Kevin Ronaldson this month, has spoken in an exclusive interview about the plans for the future of Bellpenny, which, he said, does not include flotation.

The Financial Planning firm, which employs 77 Financial Planners and 41 Paraplanners, took its total number of acquisitions to 30 in July.

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Mr Stockton, formerly the financial services director at Countrywide, an estate agency and property services group, said: “Since our last announcement we have acquired two more business that we will be announcing shortly. Going forward will always look for opportunities where we believe we can add value. Does this mean more acquisitions? Almost certainly.

“I do, however, intend to take stock of our current position and I would expect fewer - but larger - acquisitions going forward in 2016 and beyond.”

Asked if he had any plans for flotation, Mr Stockton said: “None at all. The Countrywide IPO taught me that if you build a profitable, strong client-based business, with happy customers and simple internal operations then the future will look after itself.”

He said: “My vision is the company’s vision – to be the best financial advice firm in the country. Best doesn’t necessarily mean biggest. It means we have happy clients prepared to recommend us and that we give timely, great financial advice for all customers wealth, pension and investment needs.

“In five years time I hope Bellpenny will still be living and breathing these core ideals.”

London-based IFA Cranfield Financial Services was acquired by Bellpenny in July - bringing £196m funds under management.

This represented Bellpenny’s biggest deal so far this year. It was not disclosed how much the company paid for the takeover.