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Succession won’t waver on DB transfers as growth plans ramp up

Succession Wealth will revamp its focus on growth, acquisitions and specialised services with no plans to limit the amount of defined benefit transfers its advisers carry out.

Despite complex rules, increasing supervision and negative attention on DB activity, Succession group communications and public relations director Mark Stokes says the group remains committed to providing transfer services.

Speaking to Money Marketing, Stokes says: “There is a lot of pressure on the DB transfer market, but we are not moving from our current position on transfers.

“We have more than 20 specialists in our various offices that can carry out these services for clients who need them.”

Succession Wealth – which recently acquired six advice firms as part of a regional growth strategy – has around 200 advisers.

Stokes says the group has an aspiration turnover figure of £100m in mind for 2019 and will restructure staff to meet its goals.

The group is set to announce candidates for the new roles of director of client strategy and head of mergers and acquisitions to guide further organic and acquisition growth.

IFAs gun shy of DB transfers due to FCA rules research shows 

Succession has made 55 acquisitions since 2014 and holds £8bn in assets under management.

The Succession investment platform is currently holding £3.7bn in assets, while an equal amount is held between a variety of other platforms.

Stokes says the group does not have any plans to migrate all clients to its own platform in the future.

He says: “We are really pleased with our growth at the moment and are now very much focused on clients experience and ensuring that the firms we acquire, their advisers and all our clients are getting the best service we can provide.”



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  1. 20 pension transfer specialists out of 200 advisers; that seems like a large ratio.

    Says they are spread throughout the various offices but doesn’t clarify if they are dedicated PTS’s or if they are advisers who are qualified, trained and authorised to sign PT’s off.

    If the latter, I hope the cases are peer reviewed or subject to a head office quality check or I can see more woes ahead and bigger FSCS bills.

    Still if they go under, they wont have to pay the firms they have bought the installments on the purchase plans.

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