Henry Taylor
Posted on 4 Mar 2022

Michelmores advises on acquisition of Succession Wealth for £385m

Michelmores LLP has advised longstanding client Succession Wealth on its £385m sale to Aviva.

The sale to Aviva, which is subject to regulatory approval, will see Succession continue to be run by its existing management team, operating as a separately regulated firm with its existing brand. Succession has approximately 200 planners, advising on £9.5bn of assets of around 19,000 clients throughout the UK.

The Michelmores team was led by Corporate Partner Henry Taylor with support from Senior Associate Francesca Hubbard. Partner Simon Allum and Associate Anthony Reeves advised on tax aspects.

Henry Taylor, Corporate Partner at Michelmores, said:

"Having worked so closely with Succession, advising them on 35 acquisitions since 2016, it has been a real pleasure to work with them through this process.

“The deal demonstrates a continued appetite in the sector for high quality financial advice firms and we are delighted for the management team, shareholders and wider planner community."

Michelmores advised Succession alongside Herbert Smith Freehills and Carey Olsen. Aviva was advised by Eversheds Sutherland.