Six new acquisitions take Succession past £8bn AUM

The newly acquired businesses, which bring 16 financial planners and 2,100 clients to the wealth management and financial planning group along with £800m AUM, are Ellaby Pollard in Bristol, Killermont Investments in Glasgow; Mackenzie Investment Strategies in Inverness; Warwick Butchart Associates in Cheltenham; Winter Financial Services in Marlow; and a second Glasgow business where the deal remains subject to regulatory approval.

In April, Succession Wealth announced it had secured more than £100m of additional financing facilities through existing arrangements, with a view to funding "a more intensive acquisition plan and accelerate its national growth and presence". The group has now acquired 55 advice businesses since 2014, at a rate of roughly one a month.

Succession Wealth CEO James Stevenson said the acquisitions extended the group's national coverage, creating new regional offices in Inverness and Bristol and "considerably strengthening our already significant presence" in Glasgow and the Thames Valley.

 "Since the launch of our advisory business just five years ago and the acquisitions we have completed, Succession Wealth is now in a very strong position to continue to deliver sustainable growth and become the UK's foremost professional financial planning practice," he continued.

"The most sustainable companies prioritise their relationships with their clients and stakeholders, and our aim is to ensure everyone who is interested in benefiting from full financial planning and wealth management has ready access to the best possible advice.

"We take pride in the fact so many of our people - particularly our former business owners - remain with us. This ensures our clients receive continuity of service from a local business delivered nationally."

‘Quality of service'

Mackenzie Investment Strategies founder Duncan Mackenzie said: "Succession has invested heavily in Scotland and, for us, it was essential for our clients and staff to join an established, reputable company that would allow us to foster the same level of trust and provide the same quality of service upon which we had based our reputation."

And Ellaby Pollard managing director Andy Barr said: "Our clients will continue to receive high-quality financial planning advice but will also enjoy enhanced services and an improved proposition as a result of us becoming part of a larger, national organisation."

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