Spearpoint takes majority shareholding in Succession
Share
Spearpoint Limited has taken a majority investment in IFA consolidator Succession Advisory Services.
Succession says that the move will allow the firm to begin the consolidation process of member firms earlier than expected.
Succession chief executive officer Simon Chamberlain says: “Succession rapidly established itself as a gatekeeper to the fund management market place, attracting high calibre member firms, and quickly achieved our target for FUM. Our plan has always been to invest in member firms to support their continued growth and expansion and we will now be in a position to do this well ahead of plan.”
“This is an important strategic step for Succession that accelerates our transition programme to deliver a long-term, client-focused proposition, which has both our members and their clients at its heart.”
Spearpoint chief executive officer John Davey says: “The major stake in Succession is in line with Spearpoint’s growth strategy. It allows us to fulfill our objectives of extending our presence in a fast growing market-place. Succession has demonstrated that it can integrate complex and large-scale businesses successfully. We hope to see the consolidation process begin as soon as possible.”
If you enjoyed this article, sign up here to receive daily email updates from Money Marketing and Follow @_moneymarketing
