Wealth management leader Succession Wealth investigating a cyber attack

Succession Wealth, one of the UK’s leading financial planning and wealth management companies, said it has introduced additional security measures after learning about a cyber attack and is presently working with law enforcement.

With more than 200 financial advisors and over 20,000 clients, Succession Wealth specialises in long-term wealth management and financial planning. It has offices in 19 locations across the UK and around £10 billion worth of assets under its advice.

In a recent statement, a Succession Wealth spokesperson said that the firm was alerted about a cyber attack on February 8 and it quickly launched an investigation to understand the scope and nature of the same. The company also informed all relevant law enforcement authorities about the security incident.

“The security of our clients’ information is our top priority and, as a precaution, while the investigation is ongoing, we have quickly introduced additional security measures,” the spokesperson said.

While the company did not provide many details about the extent of the cyber attack or how threat actors infiltrated its network, Succession Wealth confirmed that it “will ensure that clients will not suffer financial loss if their personal data held by Succession is misused as a result of the attack.”

“We are working to assess and resolve this situation, but at this stage, we cannot comment on the nature of this attack. We will give further updates as and when appropriate to do so. We understand this will cause concern for our clients and we apologise for this,” the spokesperson added.