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June 14, 2019

Succession continues purchase spree with six advisory firm acquisitions

Consolidator Succession Wealth purchases six financial advisory businesses, adding £800m in assets to its books.

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  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
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The newly-purchased firms are the Inverness-based Mackenzie Investment Strategies, Marlow-based Winter Financial Services, Cheltenham’s Warwick Butchart Associates, Glasgow’s Killermont Investments, and Bristol-based Ellaby Pollard.

Additionally, Succession snapped up another Glasgow-based firm. The name of this firm was not revealed, with the deal pending regulatory nod.

The addition of the new assets boosts the consolidator’s total assets under management to over £8bn.

As part of the deals, 2,100 clients and 16 financial planners have moved to Succession.

Succession Wealth CEO James Stevenson said: “Since the launch of our advisory business just five years ago and the acquisitions we have completed, Succession Wealth is now in a very strong position to continue to deliver sustainable growth and become the UK’s foremost professional financial planning practice.

“The most sustainable companies prioritise their relationships with their clients and stakeholders, and our aim is to ensure everyone who is interested in benefiting from full financial planning and wealth management has ready access to the best possible advice.

A total of 55 firms have become part of Succession since 2014.

“We take pride in the fact that so many of our people – particularly our former business owners – remain with us. This ensures that our clients receive continuity of service from a local business delivered nationally,” Stevenson stated.

 

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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