Financial Planning firm Succession Wealth has acquired Oxford-based financial advice firm Oxford Advisory Partnership.

The deal adds over £175m in client assets.

Succession purchased the firm for an undisclosed sum in an all-cash transaction.

The deal is Succession’s 60^th acquisition since 2014 and takes total assets under administration to £9.6bn.

It is the second deal of the year and follows the recent acquisitions of Pannells, JCF Financial and Bankhouse, which together brought in over £1.6bn of client assets.

Oxford Advisory Partnership offers retirement planning, investment advice, tax planning, and long-term care, and was founded in 2001.

It has a long-standing relationship with colleges at the University of Oxford, advising current and retired academics on all aspects of financial planning and helping them navigate the complexities of the Universities Superannuation Scheme.

James Stevenson, CEO at Succession Group, said the firm is looking to make more acquisitions in the near future.

He said: “While this marks our fourth acquisition since December, it does not signal a change in our corporate strategy. We remain open to opportunities when they can benefit both parties but are not seeking to build scale for its own sake. To that end, we have been delighted to receive notable approaches direct from financial planning firms across the country in recent weeks.”

Andy Watts, director at Oxford Advisory Partnership, said Succession’s specialist propositions, such as Succession Independent Schools, was a very important factor too as the firm was looking to scale its universities offering nationally.

Succession Independent Schools works with independent schools, academies, colleges and universities to provide guidance on workplace pensions, taxation and employee benefits.

Succession Wealth is one of the UK’s largest wealth management and Financial Planning businesses with a 600-strong team including 180 ‘wealth planners’. The firm has over 17,000 clients served by 15 offices across the UK.