Aviva has completed its acquisition of financial advisory firm Succession Wealth.
This deal was initially announced in March, with Aviva expected to pay around £385m for the firm.
This acquisition enhances Aviva’s presence in the fast-growing UK wealth market and expands its ability to offer independent advice to a significant number of its 6m pensions and savings customers who don’t have an existing adviser.
As an IFA firm, Succession Wealth has over 200 planners advising on £9.5bn in assets and currently provides advice to around 19,000 clients across the UK.
When the acquisition was initially announced Succession Wealth group CEO James Stevenson 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 Succession Wealth 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.”
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