AVIVA BUYS SUCCESSION WEALTH FOR £385M
Capital and Trust - March 2, 2022 - 0 minute read
Succession Wealth, a National IFA has been acquired by Aviva for £385m to help boost its presence in the advice market, they’ve said completing on this deal means it will “significantly” enhance its presence in the UK wealth market as it will have the capability to offer high-quality financial advice to millions of their customers.
“Succession Wealth will be acquired for a consideration of £385m and its 2022 EBITDA is expected to be £24m.”
Succession Wealth has approximately 200 planners advising on £9.5bn of assets, delivering advice to 19,000 clients throughout the UK, they will continue to use their own brand and operate as a separately regulated IFA firm. James Stevenson will remain as CEO and continue to run the business.
Amanda Blanc, CEO of Aviva has said: “We are confident in the future and are setting out plans for further investment to enhance our capabilities and accelerate growth, starting with the acquisition of Succession Wealth.”
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