Money Marketing last week revealed the appointment of former Millfield chief executive Paul Tebbutt, who resigned from Core Financial Services to join Succession as a relationship director.
Before joining Core, Tebbutt was chief executive of Millfield Partnership and was fined £35,000 by the FSA in 2006 for providing misleading information about the firm’s application to merge with Inter Alliance. Millfield went into administration in June 2006.
Maidstone-based Core is headed by chief executive Mark Sutton and has nine advisers, with offices in Surrey, Sussex, Kent and Nottingham.
It is committing £150m of assets to the Succession investment matrix, bringing the total of committed funds to £400m.
Chamberlain says: “Core has ambitious plans to build up to £500m of assets by consolidating smaller IFA firms.”
Last week, Midlands firm Squirrel Financial Management was signed up as Succession’s first regional hub.