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Succession in management reshuffle following £12.5m acquisitions

Simon Chamberlain new Aug12

Succession Group has undertaken a management reshuffle following the £12.5m acquisition of its first five IFA firms.

Succession has finalised its acquisition of Smart Wealth Management, Campbell Dallas Financial Services, The Financial Management Group, Westminster Financial Planning and Westpoint Financial Consultants.

Succession Group’s board will be chaired by Ray Pierce, previously Succession’s non-executive chairman, with Simon Chamberlain as group chief executive. Succession’s Paul Morrish, Christian Captieux and Richard Rhodes become group corporate officer, group regulatory officer and group finance officer respectively.

Former Defaqto chief executive Kenn Herskind has been appointed group operations officer. Westpoint Financial director Phil Gerry has joined the board as integration director while CDFS managing director Alan Webster has become operations director.

Succession Group is a national wealth management company comprising an independent arm for investment business, Succession Wealth Management, and a restricted panel for protection, Succession Financial Management.

Succession chief operating officer Andrew Smith left the firm last month as part of the launch of the national proposition.

The five firms acquired by Succession have almost £1bn of assets under advice, of which £250m has been transferred to in-house platform Succession Advisory Services, which launched in June.

Chamberlain says: “This announcement demonstrates like-minded financial planners can come together without losing their integrity to create a national advisory brand that is cost-effective, full of capital value and holds the client at the heart of its business.”


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