Succession seals £5.3m advice acquisition


Advice consolidation business Succession has completed a £5.3m deal to acquire Buckinghamshire-based firm Michael Moore Life & Pensions.

The acquisition of the firm, which has £150m in funds under management, is the 22nd made by Succession in total. The company is targeting a further nine deals for member firms in 2016 and 50 by the end of 2017.

Succession chief executive Simon Chamberlain says: “Ambitious firms need to carefully consider their choice of partner to realise their ambitions, without compromising on service, value and principles. Our proven client-centric model enables firms to build scale, develop compelling client propositions, as well as creating sustainability and profitability, and capturing shareholder value.”

MMLP senior partner Michael Moore adds: “I set up MMLP in 1971 and the last five years, since joining Succession and stabilising my business, have been the most relaxed.

“Under Succession’s guidance, we transitioned MMLP to a fee-based, recurring income model, instead of always chasing new business, and we introduced a long-term wealth management proposition that focuses on meeting clients’ financial goals, rather than investment performance.”