Aviva buys Succession Wealth for £385m

Targets UK wealth market

Jenna Brown
clock • 3 min read
Aviva buys Succession Wealth for £385m
Image:

Aviva buys Succession Wealth for £385m

Aviva has acquired national IFA Succession Wealth for £385m as it targets growth in the UK financial advice market.

It said the deal would accelerate its ability to offer high-quality financial advice to six million of its workplace and individual pension and savings customers. The insurer's full-year results revealed: "Succession Wealth will be acquired for a consideration of £385m and its 2022 EBITDA is expected to be £24m." Aviva said it expected "double-digit" returns on its investment over the medium term through accelerated growth. It added the deal would "significantly" enhance Aviva's presence in the fast-growing UK wealth market as more people seek advice for their retirement options. ...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

Trustpilot