Succession Group has completed a deal to buy Target Wealth Management for £4.9m.

Target, a trading of Doe & Davies, provides financial advice to private clients, families, business owners, charities and trustees across the northern Home Counties, East Anglia and London.

Doe & Davies joined Succession Advisory Services as a member in 2009 and has £120m funds under management.

Succession Group chief executive Simon Chamberlain said its aim is to acquire the best 50 firms from the membership with £7bn of assets by 2017.

Target's principal IFA Trevor Doe said: "The future of financial services is all about creating scale to give clients security, value for money and specialist support.

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"At a time when business owners were giving away their assets because of the regulatory challenge and the economic downturn, we adopted Succession's transition blueprint to ensure sustainable profits and to build capital value into our business.

 "Today, our processes and systems are fully aligned, and our 26 strong team is well-trained and engaged, meaning we can move seamlessly into Succession Group and be part of a national wealth management advisory brand."

Mr Chamberlain said: "There is no-one else in the market-place with such an industrialised goal, working closely with wealth management firms to grow, develop and realise the capital value of their businesses, providing certainty and security for business owners, staff and clients."