Financial services company Succession has just reported its latest figures, with turnover, profits, platform revenues and funds under management, all up.

For the year to 31 December 2015, turnover was £24.5m (2014: 14.8m) and operating profit (before goodwill and intangible asset amortization) was £1.3m (2014: £0.8m loss). Profit before taxation came in at £1.6m (2014: £1.4m).

Total revenues from platform and membership fees were up 22% to £7.7m. There was a 12% increase to £2.30bn in funds under management at the end of 2015 and this continues into 2016, with FUM now standing at £3bn as of last month.


In a statement the company said that a key factor in its success and continued strong growth, was that clients of acquired firms are attracted, when it is in their best interests, to placing their investments on the Succession Investment Platform, because it is part of the same group as their advisory firm.

The company has also succeeded in achieving economies of scale and has made a significant investment in operational infrastructure to rapidly integrate acquired firms and deliver a comprehensive wealth planning service to clients. It also continues its long term consolidation strategy, acquiring the best 50 firms from its affiliated membership.

In 2015, ten acquisitions were completed, taking the total number of acquired businesses to 21, representing an investment of nearly £55m.


The advisory part of the business, Succession Group, increased its turnover from £8.5m to £16.7m, and operating profit (before goodwill amortisation and parent company operational running costs) was up by £2.3m to £1m.

Group Chief Executive Simon Chamberlain said: “We are at the half way point in our strategic plan to create the UK’s largest independent wealth management business and have achieved robust performance in all business areas.  Funds under management continue to grow strongly, our advice and platform trading arms are profitable and all this helps to demonstrate the strength and appeal of our proposition for clients and business owners.”

“We will continue with our plan to grow the business.  We have already made 25 acquisitions, including four this year, and we are on target to acquire 50 firms by the end of 2018.  We have financial strength and the continued support from our shareholders to execute our plan.


“Our proven acquisition and integration model continues to attract interest from ambitious wealth planning businesses, as well as appealing to high quality individual IFAs who are seeking security and recognition within a supportive and rewarding framework.  We fully expect that the significant investment in the acquisition and development of newly acquired firms will lead to strong growth in our assets and in our future operating profits. Economies of scale, enhanced technology and improved management should all have a very positive impact on future profit numbers.”

Share this article

Related articles

Nucleus appoints Alexander Filshie as CFO 

Nucleus appoints Alexander Filshie as CFO 

Nucleus Financial Platforms Group one of the UK’s leading, independent, adviser platform groups, has appointed Alexander Filshie as Chief Financial Officer (CFO), subject to regulatory approval. He starts today taking over from Mike Regan who, as previously announced,...

Trending articles

IFA Talk logo

IFA Talk is our flagship podcast, designed to fit perfectly into your busy life, bringing the latest insight, analysis, news and interviews to you, wherever you are.

IFA Talk Podcast - listen to the latest episode