New Model Adviser - For professional financial planners

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

Succession buys Birmingham IFA in deal worth up to £10m

Succession has bought Birmingham-based Clay Rogers & Partners in a deal worth up to £10 million.

Succession buys Birmingham IFA in deal worth up to £10m

Consolidator Succession has bought Birmingham-based IFA Clay Rogers.

The deal will boost Succession's assets under advice by £450 million. 

Succession could pay up to £10 million in a mixture of cash and shares to complete the acquisition. 

Clay Rogers became a member of Succession's consultancy group in 2013. 

The firm's managing directors Mark Rogers (pictured) and Tim Clay will continue to work at the business following the deal. 

Rogers said the sale was 'not a retirement play' for him and Clay.

'We are in it for the long term,' he said. 'We want to build a planning hub in the West Midlands and would not do that if we were going to retire.' 

The consolidator aims to buy member firms and integrate them with its national advice company. 

So far Succession has acquired 25 firms. Succession chief executive Simon Chamberlain has previously said it will buy 50 firms by the end of next year. 

Share this story

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
More Content
7277.73 + 47 0.65% 04:35
More Content
More Content

BUSINESS

Adviser Profile: Nicky Wright and Barry Greening of Clear Financial Advice

Adviser Profile: Nicky Wright and Barry Greening of Clear Financial Advice

Nicky Wright has helped Barry Greening overcome personal adversity to transform Clear Financial Advice into a firm that makes the most of its employees’ varied skills

ADVICE

22 Comments Active Wealth (UK) collapse leaves £500k PI mystery

Active Wealth (UK) collapse leaves £500k PI mystery

Our investigation into the collapse of a firm at the centre of the British Steel pension transfer scandal reveals significant holes in the professional indemnity insurance system

twitter_banner

INVESTMENT