Message
Succession Wealth acquires £1.4bn Financial Planning firm
Acquisitive wealth manager and Financial Planner Succession Wealth has acquired Pannells Financial Planning for an undisclosed sum.
Pannells manages £1.4bn in client assets and was founded in 1989. It has seven offices in England and Scotland.
The acquisition is subject to regulatory approval.
The deal takes Succession Wealth’s private client assets under administration to over £9.4bn.
It is the firm’s 59th acquisition since 2014.
Other recent acquisitions include JCF Financial and Bankhouse, which together brought £211m of client assets.
James Stevenson, CEO at Succession Group, said: “We are hugely excited to partner with Pannells, a firm we have long admired for its values, success and strong commitment to independent advice. The cultural fit between us that is so present with Pannells is central to how we assess strategic acquisition opportunities.
“This has been a busy period of corporate activity, but our strategy remains focused jointly on continued organic growth and strategic acquisitions only where we believe they add value to both parties.
“While we do see plenty of interesting opportunities in the market, we’re focused on acquiring high-quality businesses whatever their size and building scale to the benefit of our clients – not for its own sake.”
For individuals, Pannells offers advice on all areas of Financial Planning, including savings and investments, retirement planning and estate planning.
For businesses, it helps secure the financial future of employees and the business itself through the implementation of auto-enrolment programmes, employee benefit schemes, and more.
Frank Williamson, managing director of Pannells, said: “After a strong and sustained period of organic growth, we felt partnering with a larger firm was the natural next step for our clients and our team.
“We are extremely proud of the excellent work done by the Pannells team on behalf of our clients over many years.”
From Financial Planning Jobs. For more click on any job.
This is a selection of jobs from our new Financial Planning Jobs site - for more job vacancies click on any job or the link below.
Financial Planning Jobs https://jobs.financialplanningtoday.co.uk/