Global menu

Our global pages

Close

Eversheds Sutherland advises Aviva on its acquisition of Succession Wealth

  • Global
  • United Kingdom

    02-03-2022

    Eversheds Sutherland has advised Aviva, the UK’s leading Insurance, Wealth & Retirement business, on its acquisition of Succession Wealth for a consideration of £385m. 

    Succession Wealth is a leading national independent financial advice firm with approximately 200 planners advising on £9.5 billion of assets, delivering advice to more than 19,000 clients throughout the UK.

    The Eversheds Sutherland team was led by corporate Partner Hugo Laing who was supported by: Legal Director Ankit Chhabra and Senior Associate Alex Critchley, along with a large team across the global firm.

    Eversheds Sutherland also worked closely with the Aviva legal team, led by Kat Goulder and Maiko Adachi.

    The transaction, which is being funded by cash from Aviva’s strong capital position, is expected to deliver a double digit return on invested capital in the medium term (including all integration and restructuring costs).

    It will strengthen Aviva’s wealth offering and accelerate its ability to offer high-quality financial advice to a significant number of its six million pension and savings customers without an existing adviser.

    Hugo Laing, Eversheds Sutherland, said:

    “Great to work with Aviva on another notable deal. Well done to all of the parties involved in this transaction – a true team effort.”

    Succession Wealth will continue to operate as a separately regulated, independent, financial advice firm and will continue to use the Succession Wealth brand.

    The transaction is subject to FCA approval and is expected to complete in the second half of 2022.

    Hugo Laing, Partner

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

    < Go back

    Print Friendly and PDF

    © Eversheds Sutherland 2023. All rights reserved. Eversheds Sutherland is a global provider of legal and other services operating through various separate and distinct legal entities.

    Eversheds Sutherland is the name and brand under which the members of Eversheds Sutherland Limited (Eversheds Sutherland (International) LLP and Eversheds Sutherland (US) LLP) and their respective controlled, managed and affiliated firms and the members of Eversheds Sutherland (Europe) Limited (each an "Eversheds Sutherland Entity" and together the "Eversheds Sutherland Entities") provide legal or other services to clients around the world. Eversheds Sutherland Entities are constituted and regulated in accordance with relevant local regulatory and legal requirements and operate in accordance with their locally registered names. The use of the name Eversheds Sutherland, is for description purposes only and does not imply that the Eversheds Sutherland Entities are in a partnership or are part of a global LLP. The responsibility for the provision of services to the client is defined in the terms of engagement between the instructed firm and the client.