Succession  

Succession buys four more firms

Succession buys four more firms

Succession Group has bought four more financial advice firms from across the UK.

The deals add £255m in funds under management to Succession and bring the total number of acquisitions made by the company between January 2014 and 31 December 2017 to 47.

The companies are Independent Advisors (Scotland) and Fergus Muirhead, both based in Glasgow, London-based Booth Wealth Management and Rossmore Financial Services in Warwickshire.

James Stevenson, the chief executive of Succession, said: "Succession kick-starts 2018 by continuing to deliver on its proven and highly successful acquisition programme.

"After a year of outstanding performance, during which we acquired a total of 14 businesses across the country, we are thrilled to welcome these high calibre firms, owners, advisers and staff on board. 

"We now have 12 regional hubs and every one of these latest acquisitions will be key to strengthening our core business nationwide."

With clients mainly in west and central Scotland, Independent Advisors (Scotland) were fast-tracked into Succession after only six months of discussions.

Its managing director, Alistair Creevy, said: "Succession is investing in Glasgow as a centre for business growth. We were in talks for only six months prior to completion and have been extremely impressed with the entire acquisition process and the tremendous support we received throughout. 

"We had spoken to several firms, but Succession was by far the most professional and ambitious. The future is extremely positive, especially in the pre-retirement sector where advice is critical to a successful retirement."

Booth Wealth Management and Rossmore Financial Services both joined Succession’s affiliated membership in 2015.

Succession looks after £5.6bn of funds on behalf of its clients.

damian.fantato@ft.com