View more on these topics

Succession buys four more firms on way to 2018 target

Consolidator Succession has acquired four advice firms – Demontfort, Langham, MacDonald & Co and Independent Insurance Advisers – for £10.5m

Business-Handshake-Hand-Shake-480 Independent Insurance

The acquisitions, which remain subject to regulatory approval, take the number of firms in Succession’s wealth management business to 30.

Purchasing Demontfort Financial Advisers, Langham Pensions & Investments, MacDonald & Co Wealth Management and Independent Insurance Advisers (trading as Quintell), is set to bring combined funds under management of nearly £350m into the Succession group.

Succession chief executive Simon Chamberlain said that the regulatory and commercial pressures on advice firms looking to provide an affordable service were now “almost insurmountable”.

The latest acquisitions come from across the UK, with the firms based in Rugby, Suffolk, Gourock in the west of Scotland and Cheltenham respectively.

Demontfort has been a Succession member since 2009, Independent Insurance Advisers since 2010, and MacDonald & Co since 2014.

Succession has set a target of acquiring another 20 of its members firms over the course of next year.

The FCA began writing to consolidators requesting information on suitability processes when acquiring new firms late last year, Money Marketing revealed.

It is understood that a number of consolidators have now received feedback from the regulator but the FCA has not made this public yet.



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 The 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 […]

AFH Alan Hudson 700

AFH boss: ‘We are not a consolidator’

Nobody could accuse Alan Hudson of letting the grass grow under his feet. In the past 26 years, the chief executive of financial planning and wealth management firm AFH has been busy expanding the business he founded in 1990, both organically and through acquisitions. The firm was selectively buying small advice firms even before its […]

Converting pension savings to a retirement income…

Since last year’s reforms to pension legislation, a significant number of retirees have chosen income drawdown over purchasing an annuity. Income drawdown is more flexible than an annuity. However, it also increases the likelihood that individuals won’t be able to maintain their income throughout their lifetime. In this short video, we explain the risks that […]

The Investment Clock: Keep calm and Macron!

Trevor Greetham, Head of Multi Asset In a marked contrast to the surge in risk sentiment that followed President Trump’s election in November, markets greeted Emmanuel Macron’s victory in the French presidential election with satisfaction and relief, rather than euphoria. After rallying strongly on opinion polls that accurately predicted the outcome, the euro held onto […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment