Succession Wealth has bought Plymouth-based advice firm DFP Health & Wealth Management, adding £165mn in assets under management.
Founded in 2002, DFP provides advice on retirement planning and investments to clients across the south and south-west of England.
Glynne Dunn, founding director at DFP, said: “The key for us is independence.
"When meeting potential partners to take the business forward, we wanted to ensure clients would have access to the best solutions on the market.
“Succession Wealth provides that, as well as the peace-of-mind that comes from their track record of making integrations work – and the financial security of Aviva in the background.”
Succession said this latest acquisition takes its total to 63 since 2014 and marks the third under Aviva ownership.
The deal follows the purchases of G+E Wealth Management in October 2022 and Spence & Spence in May 2023.
It comes as Succession Wealth’s chief executive officer James Stevenson stepped down from the role after almost five years last month.
Stevenson took over as CEO of Succession Wealth in January 2018 and subsequently oversaw the sale to Aviva in March last year.
He said: “Glynne and the team have built a fantastic business that we are delighted to welcome on board.
“Succession Wealth was founded in Plymouth, and we remain as committed as ever to helping clients and high-quality IFA businesses fulfil their financial aspirations right across the UK.
“Our approach to M&A remains the same: only pursuing opportunities where we believe there is genuine strategic value for both parties, not building scale for its own sake. “
Stevenson said in the current environment, a number of high-quality advice firms are looking for a partner.
sonia.rach@ft.com
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