Succession acquires advice firm in £2.5m deal


Consolidator Succession has bought Caledonia Financial Planning for £2.5m.

Succession has had a relationship with the Hamilton-based adviser since 2013, during which time funds under management have grown to £150m.

Caledonia managing director Alan Craig says: “While other consolidators have gone restricted or given away their assets to other platforms and fund management groups, we look forward to continuing an advice process with our client that means their assets never leave Succession’s legal control.”

Succession Group chief executive Simon Chamberlain says: “Our continued major investments in people, technology and the infrastructure of our business, helps clients achieve their financial goals and we are building a strong regional presence with client serving hubs in key strategic locations.

“This supports the ongoing recruitment of individual advisers as well as providing a local service for clients.”

The consolidator aims to acquire 50 advice firms from its membership by the end of 2017.

Last month it secured £25m in new funding to fuel acquisitions.