The £46m FUM acquisition of Caledonia Edinburgh Limited is Bellpenny's fourth in Scotland and sees existing adviser, Lynn Healy transfer to Bellpenny as part of the deal.
The second purchase is that of Rawson Steele IFA, a long-established Midlands firm based in Southam, Warwickshire, and involves £38m FUM.

Bellpenny recently announced the opening of its new Scottish and Midland hubs, providing the infrastructure and client support network for both acquisitions.

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Bellpenny's chief executive Kevin Ronaldson said: "We never underestimate what a big step it is to sell a business which has been years, often decades, in the building. That's why it's so rewarding for the Bellpenny team that IFA owners the length and breadth of the UK continue to entrust us with both their legacy and their clients' futures."

Lynn Healy & George Shepherd, directors of Caledonia Edinburgh Limited, said in a statement: "Bellpenny are making a real impact on the Scottish advisory scene and, having had the opportunity to see them at close quarters, it's not hard to see why. It has been so refreshing to deal with a company whose expansions plans are more than matched by a genuine attention to the minutiae of client service and relationships."

Paul Rawson and Brian Steele, partners of Rawson Steele IFAs, added: "During our 23 years in business, we have always tried to put our clients at the very centre of everything we do. Our dealings with Bellpenny leave us confident that they will continue to maintain the same high level of service which we have always aimed to provide."

Bellpenny a national wealth management company supported by Oaktree, a global investment management firm.