Succession adds Belfast firm to its stable
- Succession’s double acquisition adds £265m
- Succession adds two firms
- Succession to become national wealth manager
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The move will add £120m in funds under influence to Succession, and will expand the wealth management business and financial services consolidator’s reach into Northern Ireland.
According to Simon Chamberlain, chief executive for Succession, CBS Astor Buller will become Succession’s hub in Northern Ireland, enabling the business to grow and acquire other appropriate businesses.
Mr Chamberlain said: “Dynamic firms need to consider carefully their choice of partner in order to realise their ambitions of succeeding in a new era of financial services. Regulatory and competitive pressures requires a new approach whether to build scale, develop compelling client propositions, or create sustainability and profitability.
“Traditional distribution networks, with a one size fits all strategy, are failing to meet the diverse and complex needs of ambitious business owners.”
Matthew Brown, chairman of CBS Astor Buller Chairman and Ernst and Young Entrepreneur of the Year finalist, said: “CBS Astor Buller is young, focused and ambitious. Joining Succession, we have a partner that combines credibility, professionalism and integrity, with a full appreciation of the benefits of fully developing a business to fulfill its potential.”
In the first quarter of this year, Succession consolidated five of its firms as part of plans to become a national wealth manager, launching a consumer brand called Succession Wealth Management Holdings.
This is to oversee two restricted businesses: Succession Wealth Management and Succession Financial Management.