Consolidation in the financial advice sector shows no sign of slowing. We’ve seen a surge in M&A activity across the UK, with private equity firms fuelling a wave of acquisitions and valuations reaching historic highs.
For every successful acquisition, there are others that fall short, where cultural clashes, adviser departures and client disruption unravel the very value the deal was meant to create.
The hard truth is that buying a business is easy; integrating it well is the real challenge.
With more than 65 acquisitions behind us, we have developed a clear understanding of what successful integration looks like. That experience has shaped a repeatable model for acquiring and integrating advice firms, one that protects what matters most: clients, people and culture.
We’re proud of the progress this approach has delivered, and equally clear about the responsibility it carries. Integration isn’t a tick-box exercise; it’s a long-term commitment. And in today’s market, that’s what separates sustainable success from short-lived headlines.
The backdrop is well known to Money Marketing readers. Rising compliance costs, regulatory change and succession planning pressures are driving many advisers to consider a sale. At the same time, capital continues to flow into the sector.
According to NextWealth’s third annual Consolidators and Aggregators Report, although the pace of acquisition fell marginally in 2024 – with 127 publicly announced deals compared to 134 in 2023 – the value of deals was significantly higher.
These headline numbers only tell part of the story. What’s often overlooked is what happens after the deal is signed.
We believe integration is where promises are tested, cultures meet and clients either stay or start to look elsewhere
When integration falters – whether through cultural misalignment or rushed planning – the impact can be damaging for clients, advisers and long-term value creation. That’s where our focus lies.
We believe integration is the moment of truth in any acquisition. It’s where promises are tested, cultures meet and clients either stay or start to look elsewhere.
We’ve taken the time to build and refine a structured, people-first integration model. One that preserves adviser-client relationships, embeds cultural alignment and carries forward the strengths that made the firm successful in the first place.
Our approach respects what made the business successful and ensures it continues to thrive as part of a wider group. This isn’t always easy. But it is essential.
Culture isn’t about perks or posters. It’s about the standards we uphold, the behaviour we tolerate and the trust we build
Having worked across a range of organisations, I’ve seen the power of strong cultures and the cost when they’re ignored. Culture isn’t about perks or posters. It’s about the standards we uphold, the behaviour we tolerate (or don’t) and the trust we build with clients and colleagues.
Culture doesn’t take care of itself; it’s a leadership responsibility. And in M&A, it becomes the difference between a smooth transition and a painful fallout.
Our aim is to be the trusted home of financial advice, and it guides everything we do.
That includes how we welcome new firms into the group, how we treat their people and how we honour their client relationships.
Like many in our profession, I’ve had a varied career path that began as a chartered accountant and eventually led to leadership roles. And along the way, I’ve seen the human side of leadership – the personal challenges, the importance of resilience and the need to support each other.
I’ve also seen first-hand how important it is to create environments where people feel safe to speak up, especially during times of uncertainty or change.
That’s something I care deeply about and it shapes how I lead – with openness, pragmatism and a belief that culture is everyone’s responsibility. And in a profession built on long-term relationships and trust, that kind of culture matters more than ever.
The winners won’t be those who simply buy more. They will be the ones who integrate better
So where next for our sector? M&A will continue – you don’t need a crystal ball to see this. But as valuations peak and regulatory scrutiny intensifies, the winners won’t be those who simply buy more. They will be the ones who integrate better.
Integration is where brand promises become reality. It’s where people decide whether they’ve made the right choice. And it’s where long-term value is either built or broken.
Our focus is on getting it right, not just once, but every time. Because ultimately, being the trusted home of financial advice means earning that trust, deal after deal.
Roger Marsden is CEO of Succession Wealth
