AKA Mortgages acquisition

The Penny Group Ltd (tPG) is pleased to announce that it has completed its acquisition of AKA Mortgages. AKA Mortgages was headed up by Tony Angell, who provided mortgage advice and served clients in Hampshire, Wiltshire and throughout the UK for more than 35 years.

This acquisition is part of the Penny Group’s broader growth strategy which focuses on collaborating with practice owners within the Openwork Partnership early in their succession planning journey to ensure there is a structured integration over an extended period of time. Tony Angell has now retired.

For the past five years, tPG’s corporate mission has been to become the leading Financial Planning practice within the Openwork Partnership. The latest acquisition cements this position with tPG’s assets under management (AUM) now topping £825m and are expected to exceed £1bn in the next 6 months.

Graeme Morrissey, Partner at the Penny Group, said ‘The acquisition of AKA Mortgages helps build our existing service offering to clients and we look forward to continuing to support the clients who Tony has worked with for many years with their continuing financial needs.’

The Penny Group would also like to wish Tony Angell the very best in his retirement.