Simon Chamberlain, the founder and group CEO of Succession Group, passed away earlier today, the company has announced.
A statement on behalf of the advice sector consolidator said: "Our thoughts and concerns are with his wife Helen and children Charlotte, Henry and Olivia at this difficult time."
It added: "Succession will continue to be led by its experienced management team, headed by chairman Ray Pierce. No further announcements are being made."
Founded by Chamberlain in 2009, Succession completed its first five acquisitions back in August 2012, costing the consolidator £12.5m.
The firm quickly became a national brand and now has more than 20 offices and 200 staff nationwide with £4.5bn of funds under management and a further £8bn in the back books of its affiliated membership.
Third day of election campaign
The chairman fears investors could think the regulator endorses passives
Calls on advisers to use stats to promote protection
Labelled a ‘stealth tax’