A financial advisory group has bought four firms for £10.5m, it has revealed this afternoon.

Succession has made a quadruple takeover, bringing its total number of acquisitions to 30. The quartet come from its affiliated membership.

Demontfort Financial Advisers, Langham Pensions & Investments, MacDonald & Co Wealth Management and Independent Insurance Advisers (Cheltenham) trading as Quintell, with combined funds under management approaching £350million, have been acquired subject to regulatory approval for a total consideration of £10.5million.

Rugby-based Demontfort Financial Advisers was one of the first firms to join Succession as a member in 2009.

Kevin Gerrard, senior partner of DeMontfort, said: “With Succession’s steer we have transformed our business thanks to an increasing specialisation in wealth planning for high net worth professionals, business owners and developing connections with other professionals, particularly accountants."

Robert MacDonald of MacDonald & Co Wealth Management, based in Gourock, in the west of Scotland, said: “We chose to work with Succession Advisory Services in 2014 to build on our strong Financial Planning foundations and create a credible “succession plan” to give certainty to our clients and employees.

“From the outset, we had shared values, vision and a passion for “real” Financial Planning - our companies were virtually identical. I now get to concentrate on the best part of my job of working with our clients and moving the business forward.”

Mark Dancer, MD of Cheltenham-based Independent Insurance Advisers, trading as Quintell, said: “We joined Succession in 2010 to gain access to a trading platform, benefit from economies of scale, be compliant and in the process de-risk our business to ensure a smooth handover was possible when the time eventually comes for us to retire. We made a good choice – our clients like it."

Established in 2006, Suffolk-based Langham Pensions and Investments specialises in pensions, investments and long-term Financial Planning for private individuals and business owners.

Founder and MD Andy Manning said: “Through Succession we have been able to move our business onto the next level by adopting a simpler, easier way to conduct investment business, through the use of investment management solutions.”

Simon Chamberlain, group chief executive, said advice firms face “almost insurmountable challenges to provide affordable and accessible financial planning services to clients”.

He said: “Being acquired by Succession delivers significant benefits, especially for clients.”

Succession plans to acquire 50 of the best firms from its membership by 2018.