Independent wealth manager Succession Group has completed the acquisition of five IFA firms and launched a new wealth management brand.
Acquired firms include Smart Wealth Management based in London and Amersham, Glasgow-based Campbell Dallas Financial Services, Amersham-based The Financial Management Group, London-based Westminster Financial Planning and Westpoint Financial Consultants based in Plymouth.
Succussion also announced the launch of its new wealth management brand, Succession Wealth Management. In an interview with FTAdviser, Mr Chamberlain previously said that this venture will be formed of two entities that will offer independent and restricted advice respectively.
Simon Chamberlain, group chief executive of Succession Group, said: “Succession Group is our new advisory brand and will offer an independent, whole of market, single premium investment proposition called Succession Wealth Management as well as a restricted protection and regular premium proposition called Succession Financial Management.
“Advisers can be licensed in both or choose to specialise in specific product areas.”
He added: “There is a myth in the market that you need massive scale to compete effectively. Today’s announcement demonstrates that like-minded financial planners can come together to create a national brand without losing their integrity, and create an advisory brand that is cost effective, full of capital value, and holds the client at the heart of its business”.
Together, the five acquired firms will have seven locations, 100 employees and 50 advisers as well as para-planners and administrators.
