Financial advice group Succession has revealed it is looking to take over another nine businesses this year after completing its latest for £5.3m.

Succession Holdings, which describes itself as a “vertically integrated financial services organisation controlling its own advice, platform, and fund management activities”, has acquired Michael Moore Life & Pensions.

The Great Missenden-based firm, which has £150million of funds under management, becomes the fifth this year to become part of its national wealth management advisory arm. It is the 22nd member firm acquisition overall.

Succession said it plans to acquire 50 of the best firms from its 80-strong membership by the end of 2017.

Michael Moore began working with Succession five years ago. It specialises in wealth management for high net worth individuals and corporate clients, with financial planning and cashflow modelling at its core.

MMLP senior partner Michael Moore said: “I set up MMLP in 1971 and the last five years, since joining Succession and stabilising my business, have been the most relaxed.

“Under Succession's guidance, we transitioned MMLP to a fee-based, recurring income model, instead of always chasing new business, and we introduced a long-term wealth management proposition that focuses on meeting clients’ financial goals, rather than investment performance.”

Mr Moore said: "We are delighted with the recognition and reward for our work. This acquisition allows us to enjoy a capital event now, and to continue making an active contribution to Succession Group.

“Being part of a bigger unit can only mean greater security for clients and colleagues, and the positive rewards of working with like-minded individuals within the Succession Group family will propel the business forward. This is the start of a very exciting and rewarding phase in our careers, and we are looking forward to the future.”

Succession Group chief executive Simon Chamberlain said: “Ambitious firms need to carefully consider their choice of partner to realise their ambitions, without compromising on service, value and principles. Our proven client-centric model enables firms to build scale, develop compelling client propositions, as well as creating sustainability and profitability, and capturing shareholder value.”

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