Chamberlain's Succession signs up four IFAs

IFA consolidator Succession says it has received more than 600 expressions of interest in what it calls its “capital creation” model after signing up another four IFAs.

The firm, founded in May by a four-man team including former Thinc CEO Simon Chamberlain, has agreed deals with Warwickshire-based DeMontfort Professional Wealth Management, KPM Financial Planning, Derwent-Bell Financial Management and Oakley Financial Solutions.

Succession aims to offer advice for IFAs on how to future-proof their business, maximise value and secure exit partners for those principals looking to leave the market.

Its founders, who also include former Thinc director Tim Parsons, ex-Hambro Fraser Smith CEO Andrew Smith and former Barclays director Paul Morrish, set out to achieve £7bn in funds under management within five years.

They say the four new firms it has signed up have committed about £300m of assets to its Investment Matrix, bringing the total to almost £1.5bn in less than six months.

"These firms have built a focussed team of specialist advisers to support professional, business and personal clients for all their needs from sophisticated retirement planning to complex investments," Succession transition director Tim Parsons says.

"Each business is a strong brand in its chosen market and understands that focusing on client value creates financial value in the business."

Kevin Gerrard, senior partner of DeMontfort, a HNW-focused business with five advisers, adds: "We identified that Succession can accelerate our business and achieve further significant change while developing an RDR-compliant client service proposition".