Succession Group

The Succession Group is a Plymouth-headquartered wealth management company that was launched in 2009. The business was initially set up as a consolidation vehicle but, with the subsequent creation of a network and launch of its own platform, grew beyond its original design.

Succession assists advisory firms by determining the capital outcome they wish to receive over a selected period, then working closely with them to create a bespoke model to achieve this. Its founder Simon Chamberlain passed away in March 2017.

In April 2017, Succession acquired member firms Paul Jones Financial Services and Equity Invest for a total consideration of £4m, after buying member firms Lewis Chambers and Plan4Wealth in March 2017 in a deal that valued the businesses at more than £10m.

This pattern of acquisitions has continued. A £20.6m deal in August 2017 saw it take over Prosperitas Independent Financial Advisers, Sigma Asset Management, Norris and Fisher Independent Financial Services and Tim Burton. In November 2017, it completed the acquisition of Accountants Financial Services (Scotland) and H&L Financial, adding more than £400m in funds under management to the business. In January 2018 it added £255m in combined funds under management to the company with the acquisition of Glasgow-based Independent Advisors (Scotland) and one of its appointed representatives Fergus Muirhead, London-based Booth Wealth Management and Warwickshire-based Rossmore Financial Services.

Succession bought 47 business between January 2014 and 31 December 2017 as it sought to strengthen its nationwide core business.

James Stevenson was appointed in May 2017 as Succession managing director and Sanjay Shah became managing director of Succession Advisory Services. Stevenson joined Succession in 2015 as group operating director. In September 2016 he assumed full commercial, operational and financial responsibility for the group. In December, Stevenson was named group chief executive of Succession Holdings, the parent company of Succession Advisory Services and Succession Group.