Succession acquires tenth member firm in march to target

The firm acquired Salisbury-based Hart Financial for £3.12m, which had joined Succession'a consolidation programme in 2012. Succession takes on advisory firms as 'members' and requires them to adjust to its systems and processes before buying the ones it considers 'best' on a 50% cash - 50% equity basis. The firm plans to acquire its '50 best firms' by the end of 2017, hoping to accumulate £7bn of assets under management, before it will capitalise in the first quarter of 2018, chief executive Simon Chamberlain (pictured) said. The company foresees the buyouts will cost it a total o...