Six financial advice firms have been acquired by Succession Wealth.
In total, the deals bring £800m ($1bn, €898m) in assets under management on board, taking Succession to £8bn in AUM.
As a result, the wealth manager will see 2,100 clients joining its business as well as an additional 16 financial planners.
The firms
The companies that have been acquired are:
- Mackenzie Investment Strategies in Inverness,
- Winter Financial Services in Marlow,
- Warwick Butchart Associates in Cheltenham,
- Killermont Investments in Glasgow,
- An unnamed Glasgow-based business, with the deal subject to regulatory approval, and
- Ellaby Pollard in Bristol.
Overall, 55 firms have been bought by the UK-based wealth manager.
“Since the launch of our advisory business just five years ago and the acquisitions we have completed, Succession Wealth is now in a very strong position to continue to deliver sustainable growth and become the UK’s foremost professional financial planning practice,” said James Stevenson, chief executive.
“These latest acquisitions extend our national coverage, creating new regional offices in Inverness and Bristol and considerably strengthening our already significant presence in Glasgow and the Thames Valley.
“We take pride in the fact that so many of our people – particularly our former business owners – remain with us. This ensures that our clients receive continuity of service from a local business delivered nationally.”
