Simon Chamberlain, chief executive of Succession, has revealed plans to “fund the acquisition of the best 50 firms with £7bn of assets by the end of 2017 from our growing membership”.
Speaking to FTAdviser, Mr Chamberlain said he was already in advanced discussions and negotiations with member firms “that have successfully incorporated our processes and systems into their operating model to ensure sustainable growth and profitability”.
He said Succession has “a proven acquisition model” and added the infrastructure for integration was firmly established.
Mr Chamberlain said: “Dynamic financial services professionals need to carefully consider their choice of partner in order to realize their ambitions and we will continue to recruit new member firms with the drive, commitment and characters to innovate and respond to the demands of clients.
“We want our clients to feel that they were dealing with a firm totally dedicated to the highest professional qualifications, service and ethics.”
Mr Chamberlain said Succession’s recent and future acquisitions have opened up opportunities for further regional expansion.
Succession Group has now acquired 11 firms, with several more already at the shareholder purchase agreement stage of discussions, meaning further significant growth for Succession Group in 2015.
Talking about Succession’s plans for 2015, Mr Chamberlain said there would be an educational programme in partnership with the IFP and CII to help financial planners achieve Diploma level six in financial services.
Looking back at 2014, Mr Chamberlain said the year would be remembered for Inflexion Private Equity purchasing a majority stake in Succession in January and committing further funds in support of creating the “UK’s largest independent wealth management business.”
He said: “Their support is a clear demonstration of the power of our vertically integrated model which combines wealth management and financial planning services to clients, with our own open architecture platform which now administers over £2bn of assets.
“More than 13,500 clients are engaged with the Succession proposition, and £10bn of funds under management are entrusted to our 350 advisers, based on the principles of value, trust and excellence.”
emma.hughes@ft.com
