In 2016, the group received £25m in funding from HSBC and its existing shareholders to go out and buy the “best 50 firms from its affiliated membership.”
This latest acquisition comes less than a week after the wealth manager purchased IFA Chambers Group and financial planner Plan4Wealth for £10m and coincides with International Women’s Day.
Founded by Lesley Mackintosh, Independent Women enjoys a long-standing reputation in the UK for providing independent financial advice dedicated to women.
Clients will be able to access IW’s specialist advice via Succession’s regional networks. Mackintosh will remain in her role as managing director.
Mackintosh, who will remain in her role as managing director of IW, said that “helping clients achieve financial independence” has always been a cornerstone of the brand. Female planners map out everything from savings, investment, retirement and divorce.
Historically, women’s financial needs have not received the attention they deserve, Mackintosh said.
“There has never been a better time for us than now,” she added.
“Women’s issues have had a major push in recent years, particularly in financial services where traditionally there has been a significant gender imbalance.
“That tends to mean a different delivery of service and often women have found that what was on offer was misaligned with their needs.
“We are proud to advocate services for women and know from experience what a difference the right advice and support can make.”
Succession’s latest addition will provide both men and women with the benefit of more options, added group chief executive officer Simon Chamberlain.
He said: “Many women – and indeed men – would prefer their planner to be a woman. Succession recognises this requirement and Independent Women has been established to deliver this proposition for our clients.”
