The wealth management and financial planning firm is Succession's 24th acquisition.

The UK's Succession Group has acquired Caledonia Financial Planning, based in Hamilton, Scotland, for £2.5 million ($3.2 million).

Caledonia joined Succession's network of wealth management and financial advice firms in 2013. Since then, Caledonia has developed its financial planning proposition for high net worth clients, growing funds under management by 50 per cent to £150 million.

“Our transformational growth reflects the appeal and reach of the comprehensive client-centric wealth planning proposition built hand-in-hand with Succession,” said Caledonia’s managing director, Alan Craig.

“While other consolidators have gone restricted or given away their assets to other platforms and fund management groups, we look forward to continuing an advice process with our client that means their assets never leave Succession’s legal control,” he continued.

The acquisition brings Succession closer to its goal of acquiring 50 firms from its membership by the end of 2017. Last month, the group acquired Maze Wealth, a £40 million wealth and investment manager based in Beckenham, Kent.

Succession's CEO, Simon Chamberlain, said: “Our continued major investments in people, technology and the infrastructure of our business, helps clients achieve their financial goals and we are building a strong regional presence with client serving hubs in key strategic locations. This supports the ongoing recruitment of individual advisors as well as providing a local service for clients.”