Succession has secured an investment package of over £25 million from HSBC and its existing shareholders (including Inflexion Private Equity) to continue its growth strategy.

The company aims to acquire 50 adviser firms by the end of 2017 with the aim of creating a national advisory network. In the last three years, it has purchased 25 firms.

Succession has 50 affiliated member firms each of which is working towards being acquired, says the company. The £25m investment package will allow the group to accelerate its rate of acquisitions.

The adviser group (directly and through its affiliated membership) has £11bn of funds under management of which over £2.5bn is serviced through its national advisory business

Group chief executive Simon Chamberlain, said: “We are at the half way point in our plan to create the UK’s largest independent wealth management business, with strong funds under management, and profitable advice and platform trading arms.

“Working with our shareholders, we have secured this institutional investment package from HSBC that demonstrates the strength of our business and confidence in the ability to execute our plan”.

Rhys Jones, head of middle market financial sponsors Western and Wales at HSBC, said: “Succession’s experienced and skilled management team place the company in an excellent position for its further expansion, and we have created a robust facility to support its growth plans.”