Wealth manager Succession Wealth said to plan £400m sale
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.