View more on these topics

Succession acquires LRH Wealth Management for £3m

Succession has bought LRH Wealth Management for over £3m as it eyes another 17 acquisitions this year.

The purchase is Succession’s eighth so far, with the group spending more than £33m buying advice businesses.

Halifax-based LRH Wealth Management was formed in 2007 and joined Succession in 2010. It has more than £100m in funds under management.

Succession says it expects more deals to be announced in the next month.

Succession Group chief executive Simon Chamberlain says: “We have accelerated our acquisition programme and are on schedule to acquire at least 17 wealth management businesses by year end, establishing a significant branded presence across the UK.

”Our target is to acquire the best 50 firms from the membership of Succession Advisory Services by 2017.”

In January, Succession Group sold a 50.1 per cent stake in the company to Inflexion Private Equity in a deal that provided capital for acquisitions.

In May, Cornerstone Financial Planning and Hopkinson Associates become the sixth and seventh firms acquired by the business, adding around £100m in assets under advice.

Last year, Succession bought Smart Wealth Management, Campbell Dallas Financial Services, The Financial Management Group, Westminster Financial Planning and Westpoint Financial Consultants.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm