Two advice firms have joined wealth management group and consolidation vehicle Succession Advisory Services, bringing £80m to the firm's funds under management.
Wealth management group Succession is launching a ‘lite' version of its platform for clients with less than £50,000 of investable assets.
A private equity firm has bought a majority stake in national financial advisory business Succession.
Midlands-based financial planning business Clay Rogers & Partners has joined Succession Advisory Services.
Succession, the wealth management group, fund consolidator and platform operator, returned profits of £1.4m last year, and increased funds under management 76% to £1bn.
Succession Group has completed the acquisition of its first five advisory firms, following approval of change in control by the Financial Services Authority.
A Belfast-based former appointed representative of St James's Place has joined Succession Advisory Service, establishing a Northern Ireland hub for the company.
Simon Chamberlain, the founder of Succession Advisory Services, has branded life insurance companies as the ‘dark forces' of the industry and questioned their motives for setting up platforms.
Two more firms have joined Succession Advisory Services, adding £100m in funds under management (FUM) to the consolidation vehicle.
Succession Advisory Services has confirmed its first five acquisitions as part of its drive to create a national proposition .