View more on these topics

Succession signs up Squirrel Financial Management as partner

IFA consolidation vehicle Succession Advisory Services has signed up Midlands-based Squirrel Financial Management as its first partner firm.

Succession was launched last month by former Thinc chief executive Simon Chamberlain for firms seeking to future proof their business from the regulatory and competitive challenges while securing partners for those seeking to exit the market.

The vehicle is also designed to enable IFAs to outsource their investment process.

Over the next 24 months, Squirrel will work through Succession’s transition formula and apply the same principles to its own IFA acquisitions.

Succession plans to invest six figure sums annually to aid the growth plans of a small number of IFA partners.

It has already signed up three IFA firms to commit £250m to its investment matrix within two months of launch and has received almost 300 expressions of interest.

Squirrel Financial Management director Ian Bascombe says: “Having given a great deal of thought to how we will respond to regulatory and competitive pressures, we are delighted to have joined forces with a strong team of industry experts with exceptional experience of creating and realising shareholder value across the financial services industry.”

Recommended

Lloyds share issue looks to raise 15bn

Lloyds Banking Group is reportedly looking to raise up to 15bn through a share issue to cut the cost of its participation in the Government’s asset protection scheme.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com