Independent wealth management firm acquires six businesses

Succession Wealth has acquired six financial advisory businesses from around the United Kingdom.

Together, the deals add up to £800m in assets under management, bringing Succession’s total AUM to more than £8bn.

As a result of the six new acquisitions, a further 2,100 clients will join Succession Wealth, as well as 16 qualified and experienced Financial Planners.

In April, Succession Wealth announced it had secured over £100m of additional financing facilities through its existing financing arrangements, to fund an intensive acquisition plan and accelerate its national growth and presence.

As a result 55 firms have now joined Succession since 2014 – an average of one acquisition per month.

The latest six acquired companies are:

  • Mackenzie Investment Strategies, Inverness
  • Winter Financial Services, Marlow
  • Warwick Butchart Associates, Cheltenham
  • Killermont Investments, Glasgow
  • Additional Glasgow business acquired subject to FCA Change of Control approval
  • Ellaby Pollard, Bristol

James Stevenson, CEO, Succession Wealth, said: “We are delighted to welcome the proprietors and staff of these outstanding businesses on board.

“We share common values and a relentless drive to achieve excellence for our clients.

“We look forward to these acquisitions continuing to drive the growth and development of our national business.

“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.

“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.

“These latest acquisitions extend our national coverage, creating new regional offices in Inverness and Bristol and considerably strengthening our already significant presence in Glasgow and the Thames Valley.”

Duncan Mackenzie, founder of Chartered Financial Planning firm, Mackenzie Investment Strategies, 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.”

Bristol based financial advisory firm, Ellaby Pollard’s 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.”

Mr Stevenson added: “Succession has a proven and extraordinarily successful acquisition model.

“Testament to this are the 55 highly respected Financial Planning businesses which have come on board in the last five years, as well as the pipeline of high quality, scaled IFA businesses with whom we are working towards acquiring through the year.

“We take pride in the fact that so many of our people – particularly our former business owners – remain with us.

“This ensures that our clients receive continuity of service from a local business delivered nationally.”

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