New IFA consolidation vehicle Succession Advisory Services today unveiled the seven-strong line up of global and specialist fund houses it has selected to form its outsourced investment management team.
Schroders, F&C, Jupiter and Scottish Widows Investment Partnership (SWIP) have joined already-announced managers Frontier Capital Management, Tactica Fund Management and Seven Investment Management (7IM).
The group are signed up to Succession's Investment Matrix, which will run the client money of joining adviser firms.
Succession was launched on 1 May but officially unveiled last week by former Thinc CEO Simon Chamberlain alongside ex-Thinc director Tim Parsons, Hambro Fraser Smith founder Andrew Smith, and ex-Barclays director Paul Morrish.
Chamberlain describes it as the "first national RDR fee-based IFA company".
Joining firms will undergo a two-year transition phase to put in place what Succession says will be a more sustainable business strategy, including a focus on building renewal income. It says joining Succession also provides a guaranteed exit partner for those principals seeking to leave the market.
The firm's Investment Matrix, it adds, will enable advisers to focus on financial planning and relationship management.
It says it will engage with 85 UK IFAs over the next six months, with the aim of achieving £7bn funds under management.
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