FSA approves Succession platform

Simon Chamberlain, chief executive of Succession, said the change meant the firm now owned its own distribution and advisory businesses as well as an open architecture investment platform powered by IFDL.

He said: “Clients will now be able to give money to their trusted adviser at Succession, who will be able to place the money on a platform on behalf of the client without ever losing control or legal responsibility for the asset or the client relationship.

“The money will be invested on a platform, when in the individual client’s best interest, owned by the advisory business where the fund management activity is purely a cost effective commodity.

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“Never again will the capital value of owning the client relationship be passed on to fund management groups of platform providers, but instead be owned by the advisory business in true partnership with their clients.”