Succession has continued its buying spree by acquiring Beckenham-based Financial Planning business Maze Wealth for £1.2million.

Maze, founded by Financial Planner Dhan Sharma, began working with Succession in 2013 with the aim of increasing its capital value, said Succession. Maze specialises in wealth management for senior executives and partners and has £40million of funds under management.

Succession group chief executive Simon Chamberlain said: “Ambitious IFA and wealth management firms, like Maze Wealth, join Succession with a clear agenda to build value and capital into already high-performing business models.”

Maze Wealth founder Dhan Sharma said: “There will be no nasty surprises for Maze clients as Succession is the only acquirer that doesn’t expect business owners to abandon their commitment to independence..”

Mr Sharma continued: “Clients have already experienced very real benefits of our membership of Succession. We joined three years ago, and the targeted client propositions, attractive pricing, Financial Pplanning tools and integrated technology ensure we deliver a premium wealth planning experience."

He added: “Many business owners describe their business as their pension. While I have no plans to retire yet, this acquisition has de-risked my pension planning by delivering an attractive capital event now and secured the medium and long-term future for clients and staff, while enabling me to continue to do the job I love.”

Succession plans to acquire 50 firms from its 80+-strong membership by the end of 2017. It was advised on the acquisition by regional law firm Foot Anstey.