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10th place: Open architecture pays dividends for Succession

Simon Chamberlain, the firm’s chief executive, said profits reached record-highs and that no other advisory firm could match its completely vertically integrated model.

He said: “We became a platform operator in January, which was a big highlight of the year, and are now the only company that has an open architecture platform.

“Every other company in the UK relies on other product providers and platform providers to run their advisory firms. As soon as the IFA gives money to a fund management house or platform that client legally becomes their customer, but we own the platform so the money stays in-house.”

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According to our analysis Succession achieved £930m in gross sales.

Mr Chamberlain added that clients took comfort knowing their trusted financial advisers were on board throughout the entire investment process, rather than delegating the responsibility to an external fund manager.