Succession acquires four businesses for £20.6m

by | Aug 3, 2017

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Brown Shipley

The Succession Group has acquired four more businesses from its affiliated membership for a total price of £20.6m.

The four businesses are:

  • Prosperitas Independent Financial Advisers;
  • Sigma Asset Management;
  • Norris and Fisher Independent Financial Services;
  • Tim Burton.

They have combined funds under management of over £520m.

 

Prosperitas Independent Financial Advisers is based in Harrogate and joined Succession’s affiliated membership in 2015, and Surrey-based Sigma joined in 2012.

Succession’s Corporate Director Paul Morrish said: “We are delighted that these four high-calibre independent advice businesses have chosen to be acquired by Succession Group.  We are a proven and trusted acquirer, with a track record of successfully transitioning IFA firms, optimising their capital value and helping them become sale-ready.

“Building on our experience and expertise, we are pleased to have deployed our new fast track acquisition process – further refining our traditional, proven model – for those businesses that already share our model, values, vision and passion for wealth planning. Our targeted approaches meet the specific needs of sellers and continue the successful, profitable growth of Succession as a whole.”

 

Prosperitas co-founder, Lawrence King, said: “Succession was unique in its commitment to increase the value of our business both before and after acquisition.  Succession’s strong leadership, client focus and commitment to independent advice and wealth planning, were significant factors in our decision to sell.  We are excited to be part of the Succession team, knowing clients will continue to benefit from a whole-of-market fund choice, as well as significant ongoing investment in client servicing technology to help achieve their financial goals.

“Harrogate will become a key location in Succession’s network of client servicing hubs, providing highly-specialised resource within a single centre of excellence, to meet the complex needs of clients. We are already actively recruiting for qualified wealth planners and support staff with the drive, commitment and character to meet the demands of a successful wealth planning brand.”

Managing Director of Sigma Julian Milner said: “We began working with Succession in 2011, as a fee-based business preparing for RDR.  We were keen to establish an optimum structure, grow assets and achieve capital value for all stakeholders. Succession ticked all the right boxes, delivering a structured, standardised investment proposition.  Over the years, the Sigma team benefitted greatly from Succession’s transformational professional consultancy services, and together we created a high-performing, profitable and successful wealth planning business.”

 

Co-founder of Dorset-based Norris and Fisher Independent Financial Services Mark Lambert said:  “We have been growing this business for 25 years, helping clients identify and achieve their desired lifestyle without the fear of running out of money.  With no plans to exit the industry, the Norris and Fisher team look forward to joining Succession and benefitting from the great opportunities for growth and personal development, knowing clients will be well cared for.”

Appointed representative of Norris and Fisher Independent Financial Services Tim Burton, said: “Having held clients at the centre of everything I do, I am excited about the opportunities that come from being a part of such a well-resourced client-centric business as Succession Group.  Succession’s wealth planning proposition, and the training and support for planners and client servicing teams are unique in the market. Remaining independent, I now get to concentrate on the best part of my job of working with clients and moving the business forward.”

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