Succession to acquire members now after cash injection

Chief executive Simon Chamberlain says a number of members have completed its business transition programme and are ready for acquisition. Spearpoint's undisclosed investment, which is subject to FSA approval, will dilute the stakes of other shareholders and help fund the £100m cost of consolidation, he adds. Having set a target of £7bn in FUM within five years, Succession has already reached £5bn in just over a year among its 30 members. Simon Chamberlain, CEO of Succession Advisory Services, says: "Succession rapidly established itself as a gatekeeper to the fund management marke...