Sector Financial services
Location Plymouth, UK
Investment type Buyout
Date of investment January 2014
Investment status Current
Non-executive board directors Andrew Mainwaring, George Collier

Succession

The company

Founded in 2009, Succession is one of the UK’s largest privately owned wealth management businesses.

Succession provides wealth management and financial planning services to individual and corporate clients across the UK through its network of acquired and member firms. It also operates its own open architecture platform, allowing a fully integrated wealth management process. The Inflexion investment will support management’s plan to pursue a consolidation strategy through a buy-and-build programme among its member firms. At the time of investment Succession employed over 110 people across the UK.

Growth strategy

Succession has a two prong growth strategy. An organic model through gaining more clients but also the acquisition of 60 member firms. Inflexion’s investment is to provide capital to facilitate the acquisition.

The Inflexion difference

Inflexion are working with the Succession management team to create the UK’s largest independent wealth management business through a focused ‘buy & build’ programme. In June 2016, Succession secured an investment package of over £25 million from HSBC and its existing shareholders, in order to continue its growth strategy through the acquisition of the best 50 firms from its affiliated membership by the end of 2017. In the last three years Succession has acquired 25 firms to create a highly profitable, organically growing, national advisory business of scale.

In addition, since investment, Inflexion has aided the management team in enhancing and formalising financial reporting and governance procedures. We have also conducted a digital audit for the company, reviewing their digital marketing, online footprint and use of social media.