Aviva to acquire British financial advice firm Succession Wealth for £385m

TAGS

British giant Aviva has agreed to acquire Succession Wealth, a financial advice firm, for £385 million to substantially boost its footprint in the fast-growing UK wealth market.

According to Aviva, the deal bolsters its wealth offering and expedites its ability to provide high-quality financial advice to a considerable number of its six million pension and savings customers who do not have an existing adviser.

Amanda Blanc — Aviva Group CEO said: “The acquisition of boosts Aviva’s presence in the fast-growing UK wealth market; supports our strategy to grow sustainably; and expands Aviva’s ability to offer high quality financial advice to millions of our customers.”

has nearly 200 planners who advise on £9.5 billion of assets, providing advice to nearly 19,000 clients across the UK. The company is said to have consolidated advice firms, with a of 60 acquisitions made so far.

Aviva to acquire British financial advice firm Succession Wealth for £385m

Aviva to acquire British financial advice firm for £385m. Photo courtesy of Colin / Wikimedia Commons / CC BY-SA 3.0

Post-acquisition, will continue operating as an independent regulated, independent, financial advice company, while retaining its brand.

James Stevenson — Group CEO said: “We are delighted to become part of Aviva and to offer our independent financial planning capability to Aviva customers who don’t have an adviser. The demand for financial advice across the entire wealth spectrum has never been greater, and the opportunity to combine Succession Wealth’s holistic financial planning expertise, with the capabilities and customer reach of Aviva is hugely exciting.

“The brand and our core independent advice proposition is fundamental in providing ongoing stability and reassurance to our existing clients and our people as we embark on this new journey as part of Aviva.”

CATEGORIES
TAGS
Share This

COMMENTS

Wordpress (0)
Disqus ( )