Succession Wealth has acquired DFP Health and Wealth Management, a Plymouth-based independent financial advice firm.
DFP was founded in 2002 to provide advice on retirement planning and investments to clients across the south and south-west of England.
It had £165m in client assets at the time of the takeover agreement. The firm’s team of 11 will all join Succession.
The deal is Succession Wealth’s 63rd acquisition since 2014 and the third under Aviva ownership, following the purchases of G+E Wealth Management in October 2022 and Spence & Spence in May 2023.
See also: What does 2024 hold in store for the wealth management industry?
DFP founding director Glynne Dunn said: “The key for us is independence. When meeting potential partners to take the business forward, we wanted to ensure clients would have access to the best solutions on the market.
“Succession Wealth provides that, as well as the peace-of-mind that comes from their track record of making integrations work – and the financial security of Aviva in the background.”
Succession chief executive James Stevenson, commented: “Glynne and the team have built a fantastic business that we are delighted to welcome on board. Succession Wealth was founded in Plymouth, and we remain as committed as ever to helping clients and high-quality IFA businesses fulfil their financial aspirations right across the UK.
See also: Mattioli Woods eyes ‘robust acquisition pipeline’ as assets inch down to £15.2bn
“Our approach to M&A remains the same: only pursuing opportunities where we believe there is genuine strategic value for both parties, not building scale for its own sake.”
