Subject to FSA approval, the proposition is expected to launch in the first quarter of 2012.

It plans to consolidate five of its RDR-ready firms initially then transition more of its partner firms in the future.

Succession currently has a stake in 40 firms and once these firms reach key Succession targets, they will be considered individually for acquisition into Succession Wealth Management.

Simon Chamberlain, chief executive of Succession, said: “Having rapidly achieved our plans, there was a real appetite to accelerate consolidation for those partner firms who had completed transition and were sitting on significant capital value within their business models.

He said the company was “hugely excited” about the new proposition.

“Bringing together individual firms with proven common policies and procedures under a unifying brand was always a key stage in our consolidation journey and we are hugely excited by the opportunities to progress our business model with Succession Wealth Management.”

The firm has 40 wealth management firms, 286 Financial Planners and £6bn funds under management.

It forecast that by the end of 2012, the amount of money on the Succession platform should be £2bn, up £1.5bn from the current figure.