UK-based advice firm Succession Wealth has acquired Yorkshire-based G+E Wealth Management for an undisclosed sum.
This comes several weeks after insurance giant Aviva completed the purchase of Succession Wealth in a deal worth £385m.
G+E Wealth Management is an IFA business which manages over £800m for clients across Yorkshire. It has three offices: one in York and two in Leeds.
It is the company’s first acquisition under Aviva ownership and takes Succession Wealth’s total assets under administration to over £10bn.
G+E marks its third M&A deal of the year, having announced the acquisitions of Pannells Financial Planning and Oxford Advisory Partnership in January.
Advanced discussions
James Stevenson, chief executive at Succession Group, said: “We felt a genuine synergy when we met G+E Wealth Management.
“The importance they place on creating a positive culture and building long-term client relationships resonated with us, and we are excited to welcome them to Succession Wealth.
“We remain focused on organic growth and strategic acquisitions where we believe they create value for our clients.
“As part of Aviva, we will continue to be judicious about who we partner with and are not looking to build scale for its own sake but are pleased to be in advanced acquisition discussions with several high quality independent financial planning firms.”
This story originated on our sister publication International Adviser.
