Succession buys four advice firms for £9.5m

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Succession has completed deals to buy four member firms for a combined total of £9.5m.

The consolidator has acquired Cornwall-based TMS, Sheffield-based Facts Financial, a Firth and Scott and Carson Associated, both based in Nottingham.

The deals add almost £400m in funds under management, Succession says.

The firm has now spent a total of £55m in acquiring 21 wealth management and advice businesses since launching in 2012.

Succession chief executive Simon Chamberlain says: “Unlike other financial services consolidators who acquire advice firms with a view to reduce staff numbers and limit the range of services to clients, Succession Group can support business owners in optimising the value of what they are selling, whilst protecting their value as a Succession Group shareholder.

“We are almost at the half way point of buying 50 firms by 2018 from our 80+ membership.”