Inflexion announces sale of Succession Wealth to Aviva

Inflexion is pleased to announce it has agreed to sell its investment in Succession Wealth, the UK’s largest independent wealth manager, to FTSE 100 business Aviva plc for £385 million. The transaction follows an eight-year partnership which saw significant M&A drive growth.

The announcement follows a record period of divestments by Inflexion over the last 12 months which includes the successful sales of Alcumus, Halo, Medivet, Reed & Mackay and Kynetec.

Inflexion backed Succession in early 2014 when the firm had £1.7 billion of assets under advice and management was looking to scale through add-on acquisitions. The business has since established a proven track-record of consolidating advice firms through its 60 acquisitions to date, making it the UK’s largest independent financial adviser with 200 planners advising c19,000 clients on £9.5 billion of assets.

Under the continued leadership of CEO James Stevenson, Succession Wealth will continue to operate as a separately regulated, independent, financial advice firm and will continue to use the Succession Wealth brand. Under new ownership the business will have the ability to accelerate growth through participating in further consolidation and from the support and substantial benefits of being part of Aviva.

The transaction is subject to approval by the Financial Conduct Authority.


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