Succession continues M&A drive with Caledonia Financial Planning

The acquisition marks Succession's 24th adviser buyout, bringing it towards the halfway mark of its growth strategy. Hamilton-based Caledonia began working with Succession in 2013. Over the three years, its main focus was the development of its financial planning proposition for high net worth clients, growing funds under management by 50%. Succession plans to acquire 50 firms from its membership by the end of 2017. In June, it secured a £25m funding package from HSBC and its existing private equity backers to accelerate expansion. Soon after it acquired Beckenham-based Maze ...