Westminster Financial Planning, Lynas Vokes Investment Ltd and Fiducia Wealth Management Ltd bring the total number of member firms that have joined Succession since its launch last year to 30, representing £5bn funds under management.
Chief executive Simon Chamberlain (pictured) says: “Succession’s powerful proposition and industry-leading expertise appeals to firms seeking to future proof their businesses by moving to an optimum structure as well as new model firms seeking to grow assets and achieve capital value for their stakeholders. Succession is still the only business of its kind that is truly aligned with the business objectives of its members”.
Fiducia Wealth Management Limited was founded in 2005 by managing director John Millican. It has £80m funds under management and five advisers. Lynas Vokes has £80m funds under management and three advisers while Westminster Financial Planning has three fee-based advisers and £30m funds under management.
Millican says: “Succession has developed a very impressive, high quality and detailed business model to enable firms to undertake the transition process to new model status. The effect of bringing together a substantial number of firms who are committed to this essential transition will enable best practice to be shared, advice to be improved and business efficiencies to be achieved.”