The latest mergers and acquisitions and other corporate actions in the wealth management sector.

Sucession Wealth, a UK wealth management and financial planning group, this week acquired G+E Wealth Management, a financial advice business which manages over £800 million for clients across Yorkshire.

G+E Wealth Management was founded in 2006 to offer both individuals and business owners bespoke financial solutions in line with their long-term goals, the firm said in a statement. 

It has three offices: one in York and two in Leeds, both of which represent an important expansion for Succession Wealth in the north of England.
 
For individuals, G+E Wealth Management offers guidance on all areas of financial need, including investment advice, retirement planning and estate planning, the firm explained. 

For business owners, it provides tailored advice to safeguard their financial futures as well as those of their businesses, through the implementation of pension plans, succession planning and inheritance tax planning. 
 
The firm said that G+E Wealth Management is its first acquisition under Aviva ownership, which takes Succession Wealth’s total assets under administration to over £10 billion. 

It is also Succession Wealth’s second completed acquisition of the year; it announced the purchase of Pannells Financial Planning in January, which brought in £1.4 billion of client assets.  
 
Welcoming the move, James Stevenson, CEO at Succession Group, said: “We remain focused on organic growth and strategic acquisitions where we believe they create value for our clients.” 

“As part of Aviva, we will continue to be judicious about who we partner with and are not looking to build scale for its own sake, but are pleased to be in advanced acquisition discussions with several high quality independent financial planning firms,” he stressed.
 
Robert Simpson, managing director at G+E Wealth Management, added: “After 16 years of building G+E Wealth Management, this is an exciting new chapter for us.”
 
“When speaking to potential partners, our priority was always what was going to be best for our clients and staff. Succession Wealth has a track record of making integrations work to the benefit of clients, and that stood out,” he said.