Succession reaches 40 partner firms

Surrey-based Sigma Asset Management; Lymm-based Xentum Wealth Management; Wessex Investment Management; and Nottingham-based Firth & Scott have joined, taking the number of partner firms to 40 and a total of £6bn in funds under management.

Simon Chamberlain, chief executive of Succession, said: “Succession’s powerful proposition appeals to businesses who have already established an optimum structure and now seek to grow assets and achieve capital value for their stakeholders.

“As well as access to Succession’s broad range of expertise, processes and added value services, partner firms will also be considered eligible for acquisition by Succession Wealth Management, the new network announced by Succession last month.

“Business owners can now recognise the wealth of opportunities arising from a new regulatory regime that rewards professionalism and expertise. As a collective of like-minded individuals, Succession’s partner firms are well-placed to leverage our influence to negotiate attractive rates and deals, as well as share best practice, for the benefit of clients, employees and stakeholders.”

Julian Milner, managing director of Sigma said: “Succession ticked all the right boxes for us. It provides a structured, standardised investment proposition that proves it’s not a case of choosing a platform that is important, but the investment process that fits around it.

Dominic Baldwin, managing director of Xentum, said: “By joining Succession as a partner, we are part of an elite partnership of industry peers in order to realize our ambition of trebling in size over the next three years. The technology, support and training will accelerate our transition and improve the professionalism of our already-strong client proposition.”

Kevin Bailey, managing director of Wessex Investment Management, said: “Succession’s commitment to take a greater share of the value chain back into the IFA wealth manager and provide a better more cost effective service for clients resonates entirely with our ethos. We have been impressed by the knowledge and expertise of the Succession board and believe our strategic partnership will be pivotal to our next stage of growth.”

Steve Phillips, director of Firth & Scott Financial Services, said: “We are proud of our chartered status and assessed the market carefully to find the right partner to evolve the Firth & Scott brand further.

“Succession has created a successful blueprint and established a comprehensive investment proposition that allows our advisers to concentrate on strategic long-term planning for clients rather than fund and product selection.”