SUCCESSION GROUP ACQUIRES EQUITY INVEST AND PAUL JONES FINANCIAL SERVICES

Succession Group has acquired two more firms from its affiliated membership, taking the number of businesses acquired in 2017 to date to four. Over the last three years, Succession has purchased 36 firms and plans to accelerate further acquisitions in line with its plan to create the UK’s largest independent wealth management business.

Paul Morrish, Succession’s Group Corporate Director, said: “Succession has a targeted approach to acquisition, working with strong financial services businesses that share our commitment to high-quality wealth planning.  Our disciplined approach has brought capital to the financial services sector, giving business owners the opportunity to be rewarded and recognised for the services they provide.

“Succession Group is preparing for further substantial growth in 2017.  With the support of our shareholders our already acquired businesses, and the excellence of our staff, we continue to innovate our already-compelling proposition that combines our investment platform, distinctive investment solutions and wealth planning advice.  At the same time, Succession Group has accelerated plans to acquire and integrate businesses from our affiliated membership, delivering long term security for clients, succession planning for business owners and career development opportunities for planners and client servicing teams.

“Succession continues to attract and acquire profitable, professional companies who, together, combine to deliver underlying client, employee and owner value.”

Paul Jones Financial Services Ltd and Equity Invest Ltd have been acquired by Succession Group for a total consideration of £4million.

With offices in Southampton and the Isle of Wight, Paul Jones Financial Services Ltd began working with Succession in 2015 specifically to benefit from scale and ensure a lasting service proposition for clients.

Peter Viney, Managing Director of Paul Jones Financial Services, said: “Succession has a strong management team and its continued focus, expertise and professionalism were a significant factor in our decision to sell.

“As part of Succession Group, we will continue to focus on a risk-based investment approach which, along with cashflow forecasting, helps clients to gain financial vision and understand how we can best meet their personal objectives.

“Maintaining client relationships is what we do best. With 40 years of financial services experience, we had reached a point where the regulatory and compliance onus on small businesses was increasingly detracting from our ability to serve clients well.”

Wimbledon-based Equity Invest Ltd provides a distinctive wealth planning service based on strong client relationships.  The business was named Best Boutique Ethical Investments Firm in 2016.

Richard Hunter, founder of Equity Invest said: “We have worked with Succession since 2015, supported throughout the transition process by a disciplined team to improve the sustainability and profitability of our business.  Succession is still the only consolidator to commit to increasing the value of a business before and after  acquisition.

“Our focus on ethical investing adds a new dimension for clients, and we are excited about contributing our ethical investment experiences within a large and successful national business.  Like Succession, Equity Invest was founded on a client-centric ethic, and our choice to be acquired by Succession was significantly influenced by the wealth planning proposition and commitment to continued innovation”.

 

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