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Succession acquires Target Wealth Management in £5m deal

Succession has acquired Target Wealth Management for £4.9m.

Target is a trading name of Doe and Davies LLP and became a member of Succession in 2009.

The acquisition sees Succession add £120m of assets under advice to its national advisory business.

Succession operates a model that sees it acquire firms that are already part of the Succession Advisory Services network.

It pays a multiple of recurring revenues including an increased rate on revenues through Succession’s own white-label platform.

Target Principal IFA Trevor Doe says: “The future of financial services is all about creating scale to give clients security, value for money and specialist support.  At a time when business owners were giving away their assets because of the regulatory challenge and the economic downturn, we adopted Succession’s transition blueprint to ensure sustainable profits and to build capital value into our business. 

“Today, our processes and systems are fully aligned, and our 26 strong team is well-trained and engaged, meaning we can move seamlessly into Succession Group and be part of a national wealth management advisory brand.”

Succession group chief executive Simon Chamberlain says: “Our target is to acquire the best 50 firms from the membership with £7bn of assets by 2017.”


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