View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
September 21, 2018

Succession Group buys two advisory firms

Consolidator Succession Group has acquired Inverness-based MacKenzie Investments and Cheltenham-based Warwick Butchart Associates for an undisclosed sum.

The acquisitions add £350m in funds under management to the consolidator’s books.

McKenzie, a chartered financial planner, has offices in Inverness and Elgin. The business has four planners, which include one trainee.

Warwick Butchart, an independent advisory firm, has four advisers.

Succession proposition and marketing director Mark Stokes said: “Succession is focused on its second-stage growth strategy and, since James Stevenson became group chief executive in January, the business has been refocusing its energies towards substantive, value-creation acquisitions managing over £1bn of funds.”

Earlier this year, the consolidator acquired Independent Advisors (Scotland), Glasgow’s Fergus Muirhead, London’s Booth Wealth Management and Warwickshire’s Rossmore Financial Services. The acquisitions added £255m of assets to Succession’s portfolio.

“Bringing together our recruitment and acquisition functions under our mergers and acquisition team will deliver a much more streamlined process for targeted firms wishing to be acquired by Succession in the future,” Stokes noted.

Stokes further said the growth of the firm will be a “vital part” of its business strategy that will be achieved “organically and via acquisitions.”

The recruitment of member firms is now being headed by group commercial director Paul Morrish, Stokes said.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy


Thank you for subscribing to Private Banker International