Bellpenny to Acquire Financial Advisor Torquil Clark

August 18, 2014

On August 5, 2014, Investment Week reported that Bellpenny will purchase Skipton Building Society’s advice arm, Torquil Clark, for an undisclosed sum.

On August 5, 2014, Investment Week reported Bellpenny will purchase Skipton Building Society’s advice arm, Torquil Clark, for an undisclosed sum. Torquil, which is based in the U.K’s midlands, has approximately £900 million in assets under management. The transaction will include the acquisition of Torquil’s wealth management and employee benefits businesses, as well as its execution-only business, TQ Invest, which accounts for more than half of Torquil’s funds under management. After the transaction, national wealth manager Bellpenny will see its assets under management grow to approximately £2.5 billion. Employees of Torquil will join Bellpenny and the business will be rebranded. Terms of the transaction were not disclosed.

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Investment Manager M&A, Transactions