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Succession granted DFM permissions as Paul McMahon joins board

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Advice sector consolidation firm Succession has been handed its discretionary fund management permissions from the FCA.

The business has also recruited Axa Elevate founder and former FNZ chief executive Paul McMahon to its board as non-executive director.

Succession chief executive Simon Chamberlain says the firm is now “completely independent of all product providers, fund managers and platform providers”.

He adds: “We are now the only independent company of scale to be completely vertically-integrated, benefiting from all income lines from our advisory business through to platform provision and now fund management.

“For the first time in the UK, a client will be able to be assured that the person and company they give their money to invest will give them an individual life plan, supported by full cashflow forecasting, delivered on a platform and in range of funds that are designed specifically for their individual needs.”

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