Maidenhead-based IFA Lewis Chambers has joined Succession Advisory Services, adding £200m in assets under advice
Under Succession’s acquisition model, firms initially become members with a view to being acquired once they have integrated Succession’s processes and fulfilled certain criteria.
Lewis Chambers has 400 clients and a turnover of £2m.
Managing director Mark Stokes says: “The future of financial services is about scale, and we want to be part of a larger firm to give our clients security, value for money and specialist support.
“Succession’s client-centric proposition exceeded expectations in every aspect and provides something we hadn’t found with any other consolidator.”
Succession group chief executive Simon Chamberlain says: “With every business, there are just two possible outcomes: to stop or sell. Business owners are thinking carefully about their future and recognising that Succession is still the only business of its kind aligned with their business objectives.
“A good cultural fit is essential, and our continued recruitment is highly targeted to create the UK’s largest independent wealth management business.”
Succession has 50 affiliated member firms and £11bn in funds under management, with over £2.5bn through its advice arm.