The firm has bought another one of its member firms, completing its sixth acquisition of 2016.

UK-based Succession has acquired Maze Wealth, a wealth and investment manager based in Beckenham, Kent, for £1.2 million ($1.7 million).

The firm has bought another one of its member firms, this time completing an acquisition of a £40 million investment and wealth manager.

Maze Wealth joined Succession's network of wealth management and financial advice firms in 2013. It specialises in wealth management for senior executives and partners and has £40 million of funds under management.

The purchase comes as part of Succession's plans to acquire 50 of its 80+ member firms by the end of 2017. In April, the group acquired Michael Moore Life & Pensions to be part of its national wealth management advisory arm. In January, it bought Cornwall-based TMS, Sheffield-based Facts Financial, and Firth and Scott and Carson Associates, both based in Nottingham.

“Ambitious IFA and wealth management firms, like Maze Wealth, join Succession with a clear agenda to build value and capital into already high-performing business models,” said Succession Group's chief executive, Simon Chamberlain.

Maze Wealth founder Dhan Sharma added: “There will be no nasty surprises for Maze clients as Succession is the only acquirer that doesn’t expect business owners to abandon their commitment to independence. Succession’s continued investment in people, technology and infrastructure is a compelling proposition for advice firms looking to springboard to the next level.”