Succession has bought Affinity Independent Management Limited and Affinity Independent Schools Consultancy LLP (Affinity), via a mix of cash and shares, which will value the deal at over £5 million.
Buckinghamshire-based Affinity, established in 2000, provides specialist wealth management services to private individuals, business people and independent schools, and has £150 million in funds under management.
Affinity’s Managing Director, Doug Muirhead, commented: “Affinity has occupied a distinctive niche in the advice market, specialising in delivering financial advice and wealth planning services to many of the UK’s leading independent schools including Eton, Harrow, Stowe Sedburgh and St Mary’s Ascot. Education professionals have distinct financial needs, and independent advice has been crucial in delivering financial clarity and certainty for them”.
Mr Muirhead continued: “We focus on building long-term and valued relationships with our clients, and understand first-hand the responsibilities and influences that shape an educator’s financial decisions. Our clients will benefit considerably from the additional scale and professionalism that Succession provides”.
Succession Group Chief Executive Simon Chamberlain said: “Helping clients achieve their financial goals is our only proposition. We will build out this specialist education advice arm though our strong regional presence, actively recruiting experienced wealth planners with the drive and commitment to provide a wealth planning service for professionals.”