Succession has added four new partner firms with a total of £500m assets under influence to its business.

The four firms are Surrey-based Sigma Asset Management, Cheshire-based Xentum Wealth Management, Nottingham-based Firth & Scott Financial Services and Wessex Investment Management which has offices in Dorset and Newbury.

Succession has now added 40 partner firms with £6bn funds under management since its launch in 2009.

Chief executive of Succession Simon Chamberlain said: “Succession’s powerful proposition appeals to businesses who have already established an optimum structure and now seek to grow assets and achieve capital value for their stakeholders.”

Julian Milner, managing director of Sigma Asset Management which has 18 advisers and £200m funds under management, said: “Successful business owners can be professionally lonely. I am pleased to be part of a community of like-minded people and enjoying access to the considerable talents and skill sets of the corporate team.”

Dominic Baldwin, managing director of Xentum Wealth Management which has £100m funds under management, said he hoped Succession would help Xentum achieve its ambition of trebling in size over the next three years.

All four firms will also be eligible for acquisition into new proposition Succession Wealth Management when they reach key Succession targets.

The Succession Wealth Management proposition was announced last December and will initially include five of its RDR-ready partner firms. The proposition is expected to launch in the first quarter of 2012, subject to approval by the Financial Services Authority.