British advice firm Succession has received an investment package of more than £25m from HSBC and its existing shareholders to support its expansion plans.
The recent investment is expected help fuel the firm’s growth strategy of purchasing the best 50 firms from its affiliated membership by 2017 end.
The Plymouth-based advice firm has already snapped up 25 firms in the last three years to create a national advisory business. The group oversees £11bn in total funds, out of which £2.5bn is serviced through its national advisory business.
Succession group CEO Simon Chamberlain said: "We are at the half way point in our plan to create the UK’s largest independent wealth management business, with strong funds under management, and profitable advice and platform trading arms."
HSBC head of middle market financial sponsors Western and Wales Rhys Jones said: "Succession’s experienced and skilled management team place the company in an excellent position for its further expansion, and we have created a robust facility to support its growth plans."