Succession member acquires Leicester IFA
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Succession Advisory Services member Berkeley Burke has acquired Leicester IFA firm Baker Richmond Financial Services.
Berkeley Burke joined Succession in May 2010, the firm, which has £1.3bn of assets under influence, specialises in corporate pensions with its own Sipp and SSAS products, providing consultancy and administration services to its group DB/DC clients.
Successions says that Berkeley Burke now has client value proposition that if fully RDR ready, having moved to a fee structure for clients
Succession chief investment officer Simon Chamberlain says: “This change in business proposition is what attracted Clive Baker, retiring principal of Baker Richmond, to choose Berkeley Burke because he wanted to ensure his clients received continuity of service.”
Berkeley Burke owner and chair Grahame Berkeley says: “We have the funds to acquire further businesses if they prove to be a good fit to our proposition Baker Richmond is just such a business. It has sizeable assets under influence of around £70m managed by 3 advisers and 1 paraplanner. It has around 3000, high net worth clients but Baker Richmond has not yet begun the move to fee charging which was a consideration for them choosing us rather than other potential acquirers offering more.”
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