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Wealth manager Succession Wealth said to plan £400m sale

Mon 08 November 2021 15:41 | A A A

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(Sharecast News) - Independent wealth manager Succession Wealth is reportedly preparing to put itself up for sale for around £400m.

According to Sky News, the majority shareholder in Succession has picked bankers to undertake a review of strategic options for the business.

City sources told Sky that private equity firm Inflexion, which took a controlling stake in 2014, was expected to launch a formal auction of Succession during the early part of next year

Larger private equity firms and some financial services groups are likely to examine offers for Succession, insiders said.

According to its website, Succession has around £8.2bn in assets under administration and employs approximately 170 wealth planners.

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