British consolidator Succession has purchased Buckinghamshire-based IFA Michael Moore Life & Pensions (MMLP) in a deal valued at £5.3m.
The acquisition, which is the fifth this year and the 22nd member firm acquisition for Succession, will add £150m of assets under management to the consolidator’s portfolio.
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MMLP focuses on offering wealth management for high net worth individuals and corporate clients.
Its partners Michael Moore and Kim Williams will move to Succession as part of the deal.
Succession Group CEO Simon Chamberlain said: "Our proven client-centric model enables firms to build scale, develop compelling client propositions, as well as creating sustainability and profitability, and capturing shareholder value."
MMLP senior partner Michael Moore said: "I set up MMLP in 1971 and the last five years, since joining Succession and stabilising my business, have been the most relaxed.
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By GlobalData"Under Succession’s guidance, we transitioned MMLP to a fee-based, recurring income model, instead of always chasing new business, and we introduced a long-term wealth management proposition that focuses on meeting clients’ financial goals, rather than investment performance."
