National consolidator Succession has made two new acquisitions, including a Chartered Financial Planner.

The firm has bought Inverness-based MacKenzie Investments Cheltenham-based IFA Warwick Butchart Associates.

Both were acquired in August and together added £350m of assets to Succession.

Chartered Financial Planner McKenzie Investments has four planners including one trainee and has offices in both Inverness and Elgin.

Warwick Butchart, which was established in 1998, also has four advisers.

Mark Stokes, proposition and marketing director, said the firm was “focused on its second stage growth strategy and since James Stevenson became group chief executive in January 2018, the business has been refocusing its energies towards substantive, value creation acquisitions managing over £1bn of funds.” 
 
But he also said it was committed to snapping up “smaller firms managing between £100m and £300m of clients’ investments.”

He added: “Indeed, we are delighted to welcome the proprietors and staff of McKenzie Investments Ltd (Inverness) and Warwick Butchart Ltd (Cheltenham) to Succession.  

“Both firms were acquired by Succession Group in August and together, they bring in over £350m of funds under management.
 
“We have also strengthened our transition and integration capability by moving these functions out of Succession Advisory Services, so they are now directly controlled by Succession Group.

“The recruitment of member firms will be led by Paul Morrish, Group Commercial Director, who has driven all our acquisition activity since Succession was formed. 

“Bringing together our recruitment and acquisition functions under our M&A team will deliver a much more streamlined process for targeted firms wishing to be acquired by Succession in the future.”
 
He said the growth of Succession remained “a vital part” of the firm’s overall business strategy and vowed that it would continue to be achieved “organically and via acquisitions.”
 
He said: “We are in a fantastic position at this point in our journey to continue to build strength into our core Financial Planning business as well as continuing to provide a market leading investment platform and proposition which now supports over 20,000 clients across the UK.”