The company stated that January 2013 had been the strongest month for platform growth, witnessing a 150% increase on January 2012, while the funds under management invested on the Succession Investment Platform was reported to be at GBP1 billion, an increase of 76% year on year.
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Additionally, 15 firms are known to have joined Succession Advisory Services, bringing the number of member firms to 53 with a total turnover of GBP55 million.
The firm had acquired 5 businesses in 2012 to create a national independent wealth management group, Succession Group Limited, forecasting GBP10 million turnover and 30% profit in 2013.
More acquisitions are stated to be completed in 2013.
Simon Chamberlain, Chief Executive commented: "2012 was a pivotal year in which Succession Advisory Services Limited surpassed significant growth and profitability targets, and consolidated our position for the next stage of development. Succession Advisory Services Limited is forecasting GBP1.8 billion funds under management invested on the Succession Investment Platform by the end of 2013, GBP3 billion by end of 2014 and GBP7 billion by the end of 2016."
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By GlobalData"Succession Advisory Services invested GBP7 million in the lead up to RDR and is benefitting from the work in creating a sustainable service led financial planning model. The massive inflow of funds onto the Succession Investment Platform reflects the requirement of investment advisers to use open architecture platforms post RDR," he added.
