Four IFA firms have been snapped up for a combined £20.6m by Succession Group.

The companies have been acquired from its affiliated membership.

The takeovers include: Prosperitas Independent Financial Advisers, Sigma Asset Management, Norris and Fisher Independent Financial Services and Tim Burton.

The quartet has combined funds under management of more than £520m.

Paul Morrish, Succession’s corporate director, said: “We are delighted that these four high-calibre independent advice businesses have chosen to be acquired by Succession Group. We are a proven and trusted acquirer, with a track record of successfully transitioning IFA firms, optimising their capital value and helping them become sale-ready.

Harrogate-based Prosperitas Independent Financial Advisers joined Succession’s affiliated membership in 2015.

Prosperitas co-founder, Lawrence King, said: “Succession's strong leadership, client focus and commitment to independent advice and wealth planning, were significant factors in our decision to sell.”

Mr King said: “Harrogate will become a key location in Succession’s network of client servicing hubs, providing highly-specialised resource within a single centre of excellence, to meet the complex needs of clients. We are already actively recruiting for qualified wealth planners and support staff with the drive, commitment and character to meet the demands of a successful wealth planning brand.”

Surrey-based Sigma Asset Management joined Succession as a member in 2012. Julian Milner, managing director of Sigma, said: “We began working with Succession in 2011, as a fee-based business preparing for RDR. We were keen to establish an optimum structure, grow assets and achieve capital value for all stakeholders. Succession ticked all the right boxes, delivering a structured, standardised investment proposition. Over the years, the Sigma team benefitted greatly from Succession's transformational professional consultancy services, and together we created a high-performing, profitable and successful wealth planning business.”

Mark Lambert, co-founder of Dorset-based Norris and Fisher Independent Financial Services said: “We have been growing this business for 25 years, helping clients identify and achieve their desired lifestyle without the fear of running out of money. With no plans to exit the industry, the Norris and Fisher team look forward to joining Succession and benefitting from the great opportunities for growth and personal development, knowing clients will be well cared for”.

Tim Burton, an appointed representative of Norris and Fisher Independent Financial Services, said: “Remaining independent, I now get to concentrate on the best part of my job of working with clients and moving the business forward”.