Mr Stevenson will also retain his position and responsibilities as managing director of the Succession Group. The appointment is effective from 1 January, at which time Mr Stevenson will also join the board.

Mr Stevenson will take the chief executive role previously held by Succession founder Simon Chamberlain who died suddenly at the age of 51 in March this year. Mr Chamberlain was also a founding partner of St James Place and led the adviser firm Succession. He founded Succession in 2009.

Ray Pierce, executive chairman of Succession Holdings, said: “2017 has been a year of outstanding performance and significant growth for Succession.  This appointment recognises James’ strong leadership of Succession Group over the last 18 months, as well as his considerable contribution to the business as a whole since he joined in 2015.”

Mr Stevenson joined Succession Group in 2015 as group operating director and in September 2016 he assumed full commercial, operational and financial responsibility for Succession Group.

He said:“I am delighted to be leading the business from the New Year on our next stage of growth.  I am incredibly proud of the entire Succession team and all we have achieved.  We’ve moved way beyond our original objectives and aspire to be the best privately owned, independent Financial Planning and wealth management business in the UK”.

Succession has recently added £400m in funds under management with two acquisitions - Scottish Chartered Financial Planners AFS and Manchester and Stratford-upon-Avon based Inspire Wealth Management.

The latter deal involves Succession, which is based in Plymouth, acquiring Inspire Wealth Management holding company H&L Financial Limited.

Both acquisitions specialise in Financial Planning with “strong professional connection referrals,” says Succession. They began working with Succession earlier this year with the aim of rapid acquisition and integration by Succession. The deals add over £400million funds under management to Succession Group.