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Succession acquires education advice specialist Affinity in £5m deal

Succession has bought member firm Affinity Independent Management and Affinity Independent Schools Consultancy in a deal valued at more than £5m

Chamberlain-Simon-Succession-2013-700.pngThe acquisition is the latest to be announced by Succession, which has also acquired firms including Caledonia Financial Planning, Maze Wealth, and Michael Moore Life & Pensions this year.

The consolidator has set a target to buy 50 of its member firms.

Succession acquired the firm through a mixture of cash and shares. Buckinghamshire-based Affinity, which has been a Succession member since 2013, has £150m in funds under management.

Affinity specialises in advice for those working in the education sector and Succession has plans to build on that niche.

Succession Group chief executive Simon Chamberlain says: “We will build out this specialist education advice arm though our strong regional presence, actively recruiting experienced wealth planners with the drive and commitment to provide a wealth planning service for professionals.”

Affinity managing director Doug Muirhead adds: “We focus on building long-term and valued relationships with our clients, and understand first-hand the responsibilities and influences that shape an educator’s financial decisions. Our clients will benefit considerably from the additional scale and professionalism that Succession provides.”



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