Succession snaps up £200m FUM with two new signings

The company added Scottish firms Edinburgh Investment Consultants and Tom Munro Financial Solutions in its quest to acquire 50 firms from its membership with £7bn of assets by the end of 2017. It has so far bought 12 of its 60-strong member firms, most recenly Reading-based adviser Finch Financial Services in a £3m deal. Succession takes on member firms before putting them through a transition process, and later buying what it deems are the most "successful" ones, typically in half cash, half equity transactions. Throughout the transition, firms are asked to align their systems and...