Succession Wealth today (18 November) said it has acquired True Wealth Group, a financial planning and wealth management group with £1.1bn in assets under advice.
True Wealth Group’s management team, led by co-founders John Baxter (pictured) and Tim Crew, have been providing financial planning, wealth management, and consultancy services together for 20 years. In 2017, the team began acquiring financial advice practices, as well as firms that provide services to financial advisers, assembling a Group of ten firms united by the desire to deliver a first-class service to clients.
Independently owned and managed, True Wealth Group is headquartered in Leeds but operates in five offices across the UK, including in Belfast, which will represent Succession Wealth’s first entry into Northern Ireland.
The deal marks Succession’s fifth acquisition under Aviva ownership and its third of 2024, following the purchases of DFP Health & Wealth Management and London Wall Partners. Together, the three acquisitions in 2024 have brought in £2.2 billion of client assets.
Roger Marsden, CEO at Succession Wealth, said: “John and Tim have built a fantastic business, and we are delighted to welcome them to Succession.
“This acquisition enhances our presence in the north of England and marks our expansion into Northern Ireland, areas key to our long-term strategic growth plans as we build the independent national wealth planning firm of choice.
“We currently see a large number of high-quality firms looking for a partner who can offer long term security for their clients, together with a proven track record of making integrations work, and a continued dedication to the importance of genuinely independent advice. This sets us apart and we will continue to actively pursue opportunities where we think there is value for both parties.”
John Baxter, co-founder and owner of True Wealth Group, said: “After years of growth, partnering with a well-capitalised national firm felt like the natural next step for our business. We spoke to dozens of firms, and only a deal with Succession gave us confidence that we wouldn’t be compromising on our proposition and our core value, which is to deliver an evidence-based investment philosophy with our clients’ best interests at heart.”
Tim Crew, co-founder and owner of True Wealth Group, said: “Since day one, our mission has been to build a national financial planning firm that serves as a force for good in the lives of its clients. In Succession, we found a like-minded firm which was key for us as we set out to secure the best fit for both our clients and team.”
Daniel Jones, Head of M&A at Succession Wealth, said: “Shortly after our first meeting with John and Tim, it became abundantly clear their culture, core values and dedication to excellence mirror our concepts of the “ideal” firm. Acquiring firms of this quality is at the heart of our M&A strategy and speaks to our position of not simply building scale at any expense.”
