Beckenham based Maze Wealth have been bought by Succession Group for a £1.2 million.
Maze Wealth have been working with Succession since 2013 and are currently managing £40 million worth of funds.
Succession recently received £25 million worth of backing from existing shareholders to fund an acquisition focused growth strategy which is seeing it target fifty of it’s best affiliated firms by the end of next year.
Succession Group chief executive Simon Chamberlain said: “Ambitious IFA and wealth management firms, like Maze Wealth, join Succession with a clear agenda to build value and capital into already high-performing business models.
“In our experience it is what happens post-acquisition that counts, and our unique approach to acquisition and rapid integration provides a clear sense of continuity for clients and staff.”
Maze Wealth founder Dhan Sharma said: “There will be no nasty surprises for Maze clients as Succession is the only acquirer that doesn’t expect business owners to abandon their commitment to independence. Succession’s continued investment in people, technology and infrastructure is a compelling proposition for advice firms looking to springboard to the next level.
“Many business owners describe their business as their pension. While I have no plans to retire yet, this acquisition has de-risked my pension planning by delivering an attractive capital event now and secured the medium and long-term future for clients and staff, while enabling me to continue to do the job I love.”
