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Succession Wealth acquires Oxford Advisory Partnership, adding £175m in assets

Succession Wealth, one of the UK’s largest independent wealth management and financial planning groups, today announces the acquisition of Oxford Advisory Partnership (OAP), an Oxford-based financial advice firm that administers over £175m in client assets.

Founded in 2001, OAP offers a comprehensive financial advice service including retirement planning, investment advice, tax planning, and long-term care. The firm is fully independent and aims to meet clients’ short, medium, and long-term financial planning requirements by using the latest technology and analytical tools to evaluate the whole of the market.

OAP has long-standing relationships with colleges at the University of Oxford, advising current and retired academics on all aspects of financial planning and helping them navigate the complexities of the Universities Superannuation Scheme.

The deal, which is an all cash transaction, marks Succession Wealth’s 60th acquisition since 2014 and takes total assets under administration to £9.6bn. The second of 2022, it follows the recent acquisitions of Pannells, announced in January, as well as JCF Financial and Bankhouse, announced in December, which together brought in over £1.6bn of client assets.

James Stevenson, Chief Executive Officer at Succession Group, said: “We have thoroughly enjoyed working with OAP on this deal, and are delighted to welcome them to Succession. OAP struck us as a forward-thinking firm, filled with a high-quality team who shared our commitment to totally independent, client-centric service.

“While this marks our fourth acquisition since December, it does not signal a change in our corporate strategy. We remain open to opportunities when they can benefit both parties but are not seeking to build scale for its own sake. To that end, we have been delighted to receive notable approaches direct from financial planning firms across the country in recent weeks.”

Steve Penniston, Director at Oxford Advisory Partnership, said: “After 20 years of growing OAP, we felt partnering with a leading national firm would help take our business and client service to the next level.

“We looked for a firm that shared our values, and it was clear from our discussions that Succession is a people-oriented business that puts clients first and understands their evolving needs. This includes a strong grasp of ESG, which is hugely important to our clients and therefore a key consideration when speaking to potential partners.

“The success of Succession’s specialist propositions, such as Succession Independent Schools, was a very important factor too as we look to scale our universities offering nationally”, added Andy Watts, Director at Oxford Advisory Partnership.

“Succession took care to make the process as smooth as possible, and its professionalism and experience of successfully integrating firms shone through.”

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