Adviser consolidator Succession has acquired its fifth advice firm this year for £5.3m, adding £150m of assets under management to its books.
Succession took on Michael Moore Life & Pensions (MMLP), five years after the firm joined the group in preparation for the Retail Distribution Review. The deal forms Succession's 22nd member firm buyout on route to acquiring a total of 50 firms by the end of 2017. Succession plans to take on a further nine advisers this year from its pool of about 80 member firms. The vertically integrated group currently controls its own advice, platform, and fund management services. It was granted full discretionary fund management permissions from the regulator in March. Succession has 350 a...
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