National IFA firm Succession Wealth has reportedly been put on the market for £400m by its private equity owners.
The firm has hired bankers from Evercore to undertake a review of the business, according to Sky News. The majority shareholder in Succession Wealth, private equity firm Inflexion, took a controlling stake in 2014 and is expected to launch a formal auction of Succession in the early months of 2022. Succession was founded in 2009 and has offices in England and Scotland. According to the firm's website it has around £8.2bn in assets under administration and employs more than 170 "wealth planners". Headquartered in Birmingham, the company is run by James Stevenson who became CEO in 20...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
