Succession Group has acquired five more financial advisory firms nationwide and also changed its Board of Directors.
The five new firms are Smart Wealth Management in London and Amersham, Campbell Dallas Financial Services (CDFS) in Glasgow, The Financial Management Group in Amersham, London-based Westminster Financial Planning and Westpoint Financial Consultants in Plymouth.
These firms include 100 employees with 50 advisers as well as Paraplanners and administrators.
The five firms have almost £1bn in assets under advice of which £250m sits on the Succession Investment Platform and a turnover of over £10m.
Simon Chamberlain, group chief executive of Succession Group, said: "There is a myth in the market that you need massive scale to compete effectively. Today's announcement demonstrates that like-minded Financial Planners can come together to create a national brand without losing their integrity, and create an advisory board that is cost-effective, full of capital value, and holds the client at the heart of its business."
Succession has also changed the board of directors,
new faces include former chief executive of Defaqto Kenn Herskind who will be group operations officer, Phil Gerry, formerly of Westpoint Financial Consultants, will be integration director and Alan Webster, formerly managing director of CDFS, will be operations director.
Chair of the group will be Ray Pierce, previously a non-executive chairman, with Mr Chamberlain as group chief executive.
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