TWO “FAST TRACK” ACQUISITIONS
PRESS RELEASE – 2 November 2017
TWO “FAST TRACK” ACQUISITIONS ADD OVER £400M FUNDS UNDER MANAGEMENT TO SUCCESSION WEALTH
Succession Wealth has completed two acquisitions, using its new fast-track acquisition process to buy Edinburgh and Glasgow-based Accountants Financial Services (Scotland) Ltd, (AFS), and Manchester and Stratford-on-Avon-based H&L Financial Limited (the holding company for Inspire Wealth Management).
Both businesses specialise in financial planning with strong professional connection referrals. They began working with Succession earlier this year with a clear vision for rapid acquisition and integration given the shared ethos and service synergies. The deals add over £400million funds under management to Succession Wealth.
Paul Morrish, Succession’s Corporate Director, said:
“We are delighted AFS and Inspire have chosen to be acquired by Succession Wealth. Our proven reputation for successfully transitioning IFA firms, optimising their capital value and helping them become sale-ready has evolved into an accelerated acquisition process for the right businesses and appeals to firms who are already operating at an optimal level and share our values, vision and passion for wealth planning.
Mr Morrish continued:
“As a skilled acquirer, we have the expertise and insight to rapidly assess and implement acquisitions, tailoring our approach to deliver a structured succession plan for firms, whatever stage they are at, and whatever size they are. Our robust funding model allows us to buy firms with greater speed and certainty, meaning that acquired firms are well-supported to achieve rapid and efficient integration. Our approach is based on a true meeting of minds, and our acquisitions allow us to support the successful, profitable organic growth of Succession as a whole.”
Paul Scarff, MD of AFS, said; “As part of our own succession planning, we wanted to ensure future generations of clients would have peace of mind, continuity and value for money. We chose to work with Succession Wealth because of the obvious synergies between our businesses – not least, a commitment to independent investment advice and financial planning.
Mr Scarff continued:
“AFS has been a very successful business for over 25 years, holding clients at the very heart of our proposition at all times. As part of Succession Wealth, we will continue to provide excellent client outcomes over the long term, with added value services and solutions. Clients will benefit from the significant investment in technology and infrastructure and the team is excited about the opportunities that come from being a part of Succession Wealth’s well-resourced client-centric business.”
Inspire Wealth Management began working with Succession following a two-year review of the market to find the right partner to achieve their succession planning goals.
Co-founder Philip Luckett said:
“We had a clear vision of what we wanted to achieve and assessed the market carefully before finding the right partner. We are delighted to be joining a rapidly-expanding wealth management group committed to whole-of-market advice.”
Mr Luckett continued:
“To deliver the very best in client service, you need to be part of a well-funded and integrated infrastructure enterprise, like Succession Wealth. Our clients will benefit from Succession’s unique client-focused technology-based delivery, and we are excited about contributing our experiences within a large and successful national business.”
Inspire Wealth Management’s co-founder Colin Hanrahan added:
“As key stakeholders in Succession Wealth, Philip and I will be able to use our insights and expertise to influence the future of the business in a variety of ways. Like other centres such as Birmingham, Harrogate and Glasgow, built through previous Succession Wealth acquisitions, Manchester will become a key location in Succession’s growing network of client servicing hubs, creating a solid base to continue the acquisition trail, and providing highly-specialised resource within a single centre of excellence to meet the extensive needs of clients across the UK.”
Succession Wealth was advised on the acquisitions by Michelmores LLP.
For more information, please contact
Mark Stokes, Group Proposition and Marketing Director
Office: 01628 625769 Mobile: 07387023721