Succession has bought Hamilton-based Caledonia Financial Planning for a total consideration of £2.5million.
Caledonia began working with Succession in 2013. With a young dynamic workforce, succession planning and career development were key priorities. Succession helped Caledonia to develop its financial planning proposition for high net worth clients, growing funds under management by 50% to £150M.
Caledonia’s Managing Director, Alan Craig, commented: “Our transformational growth reflects the appeal and reach of the comprehensive client-centric wealth planning proposition built hand-in-hand with Succession.”
He added: “Independent advice is core to providing investment strategies that deliver clarity, certainty and peace of mind. Central to this is the Succession Investment Platform – about the only platform owned by an independent advisory business of scale.”
Mr Craig concluded: “While other consolidators have gone restricted or given away their assets to other platforms and fund management groups, we look forward to continuing an advice process with our client that means their assets never leave Succession’s legal control.”
Succession Group Chief Executive Simon Chamberlain said: “Succession has consistently delivered on key growth targets for member firms, working within a timeframe that suits individual business owners.”
Mr Chamberlain continued: “Our continued major investments in people, technology and the infrastructure of our business, helps clients achieve their financial goals and we are building a strong regional presence with client serving hubs in key strategic locations. This supports the ongoing recruitment of individual advisers as well as providing a local service for clients.”
Succession plans to acquire 50 of the best firms from its membership by the end of 2017.
Succession Group was advised on the acquisition by premier regional law firm Foot Anstey.
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