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Michelmores’ Corporate team has advised wealth planning firm Succession Group on its latest acquisition of four firms from its affiliated membership, bringing its total number of acquisitions to 30.
Demontfort Financial Advisers, Langham Pensions & Investments, MacDonald & Co Wealth Management and Independent Insurance Advisers (Cheltenham) trading as Quintell, with combined funds under management approaching £350million, have been acquired for a total consideration of £10.5million.
Michelmores acted for Succession on its latest transactions, having previously advised the company on its acquisitions of Birmingham-based Clay Rogers & Partners in September 2016 and Buckinghamshire-based Affinity Independent Management in October 2016. The Michelmores team comprised Henry Taylor, Samantha Billingham, Francesca Hubbard and Megan Wright.
Simon Chamberlain, Succession Group’s Chief Executive, said:
“Succession Group has completed the acquisition of 30 high-calibre independent advice businesses, investing almost £100million to build the UK’s largest privately-owned wealth planning business.
“As consumer demand for quality advice increases, so too do regulatory and commercial pressures, and advice firms face almost insurmountable challenges. Being acquired by Succession delivers significant benefits, especially for clients.”
Succession plans to acquire a further 20 firms from its membership by 2018.
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