Succession Wealth has announced the acquisition of True Wealth Group, a financial planning and wealth management group with £1.1bn in assets under advice (AUA).
Independently owned and managed, True Wealth Group is headquartered in Leeds but operates five offices across the UK, including in Belfast, which will represent Succession’s first entry into Northern Ireland.
Led by co-founders John Baxter and Tim Crew, together True Wealth Group’s management team have provided financial planning, wealth management, and consultancy services for 20 years. In 2017, it started acquiring financial advice practices, in addition to firms that provide services to financial advisers, assembling a total group of 10 businesses.
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The deal marks Succession’s fifth acquisition under Aviva ownership and its third this year, following the purchases of DFP Heath & Wealth Management and London Wall Partners. Together these three acquisitions have added £2.2bn of client assets.
“After years of growth, partnering with a well-capitalised national firm felt like the natural next step for our business,” said Baxter, co-founder and owner of True Wealth Group. “We spoke to dozens of firms, and only a deal with Succession gave us confidence that we wouldn’t be compromising on our proposition and our core value, which is to deliver an evidence-based investment philosophy with our clients’ best interests at heart.”
Crew, co-founder and owner, added: “Since day one, our mission has been to build a national financial planning firm that serves as a force for good in the lives of its clients. In Succession, we found a like-minded firm which was key for us as we set out to secure the best fit for both our clients and team.”
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Roger Marsen, CEO at Succession, said: “This acquisition enhances our presence in the north of England and marks our expansion into Northern Ireland, areas key to our long-term strategic growth plans as we build the independent national wealth planning firm of choice.
“We currently see a large number of high-quality firms looking for a partner who can offer long term security for their clients, together with a proven track record of making integrations work, and a continued dedication to the importance of genuinely independent advice. This sets us apart and we will continue to actively pursue opportunities where we think there is value for both parties.”
