Wealth supervisor and Monetary Planner Succession Wealth – just lately purchased by Aviva for £385m – has acquired £800m AUA Yorkshire-based Monetary Planner G+E Wealth Administration for an undisclosed sum.
G+E Wealth Administration was established in 2006 and supplies Monetary Planning recommendation to people and enterprise house owners.
G+E has three workplaces: one in York and two in Leeds.
Succession says the deal supplies an “vital enlargement” for Succession Wealth within the north of England and it’s planning additional acquisitions of “prime quality” Monetary Planning corporations nationwide.
For people, G+E advises on investments, retirement planning and property planning. For enterprise house owners, it supplies Monetary Planning recommendation for people and companies together with pension plans, succession planning and inheritance tax planning.
The takeover is Succession Wealth’s first below Aviva possession and can increase Succession’s property below administration to over £10bn. It’s Succession Wealth’s second acquisition of the yr after a deal to purchase Pannells Monetary Planning in January, which introduced in £1.4bn of shopper property.
Robert Simpson, managing director at G+E Wealth Administration, stated: “After 16 years of constructing G+E Wealth Administration, that is an thrilling new chapter for us. When chatting with potential companions, our precedence was at all times what was going to be greatest for our shoppers and employees. Succession Wealth has a observe document of constructing integrations work to the good thing about shoppers, and that stood out.”
James Stevenson, chief govt at Succession Group, stated: “We felt a real synergy after we met G+E Wealth Administration. The significance they place on making a constructive tradition and constructing long-term shopper relationships resonated with us, and we’re excited to welcome them to Succession Wealth.
“We stay targeted on natural progress and strategic acquisitions the place we consider they create worth for our shoppers. As a part of Aviva, we are going to proceed to be considered about who we companion with and should not seeking to construct scale for its personal sake, however are happy to be in superior acquisition discussions with a number of prime quality impartial Monetary Planning corporations.”
Succession Wealth was established in 2009 and is a serious UK wealth supervisor and Monetary Planner. It has 16 workplaces within the UK and a workforce of 600, together with 180 wealth planners taking care of 18,000 people, households and firms. Succession was acquired by Aviva plc in August 2022.
