Mergers and acquisitions  

Aviva buys Succession Wealth for £385mn

In January, Succession Wealth made its 60th adviser acquisition to date with Oxford-based firm Oxford Advisory Partnership (OAP)

The acquisition was Succession's second this year, after Pannells, which it acquired earlier that month.

In December it bought JCF Financial and Bankhouse, which together with Pannells brought in £1.6bn of client assets.

Meanwhile it emerged in November that Succession Wealth's private equity backer was looking to put the firm up for sale.

Inflexion hired bankers to undertake a review of options for the business, according to Sky News at the time. 

Sources told the publication that Inflexion, which bought 50.1 per cent of the shares in the group in 2014, was expected to launch a formal auction of the firm early next year. The sale is expected to generate £400mn. 

sonia.rach@ft.com

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