Core Financial Services, which is based in Maidstone in southeastern England has become the latest firm to join UK IFA consolidator Succession Advisory Services, according to FT Advisor.

Succession, which launched in May, is targeting 85 IFA firms and £7 billion ($11.6 billion) in funds under management. In the past few weeks Succession has announced both the addition of Midlands-based Squirrel Financial Management and the appointment of Paul Tebbutt – the former chief executive of Millfield Partnership – as a relationship director.

"We are inundated with applications and working through each one to identify the best match for our business. Our experience shows that traditional networks are not going far enough, nor fast enough to address the challenge of Retail Distribution Review," Simon Chamberlain, chief executive of Succession, was quoted as having said.

"Core Financial Services is a progressive IFA business with ambitious plans to build up to £500 million of assets by consolidating smaller IFA firms within the Kent, Surrey, Sussex region.”

Succession was co-founded by Mr Chamberlain - known as the founder of multi-distribution platform Thinc - and Paul Morrish in July 2007.