Eversheds Sutherland advises Aviva on its acquisition of Succession Wealth

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.