Swedish wealth supervisor Söderberg & Companions has invested in three extra adviser companies because it expands its monetary recommendation presence within the UK.
The most recent offers carry the whole of UK companies invested in by the fast-growing agency to fifteen.
Söderberg, certainly one of Sweden’s greatest wealth managers, has invested in a rising variety of UK recommendation companies up to now two years, sometimes taking sizeable minority stakes.
The stake taken in every of the three companies introduced right now has not been disclosed.
The three companies the wealth supervisor has invested in are:
- HCF Partnership and Essex Monetary Administration Ltd, based mostly in Radlett, Hertfordshire. These two monetary providers companies have been in enterprise since 1982.
- Grosvenor Consultancy, a regional IFA based mostly in Bristol and Swindon. The agency has round £650m of shopper property underneath administration, with 16 advisers and 19 assist workers.
- Prosperity IFA, a Crowborough-based agency based in 2012 by Simon Munday. Prosperity IFA manages round £130m of shopper cash. It’s an affiliate member of the Private Finance Society.
Gustaf Rentzhog, CEO at Söderberg & Companions, mentioned the investments within the companies are a part of the wealth supervisor’s persevering with technique to spend money on adviser companies that wish to scale up.
He mentioned: “Our technique as we launched into the UK market has at all times been to spend money on one of the best recommendation companies we will discover and assist them transfer to the following stage.”
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The wealth supervisor took a stake in 4 different IFA companies in April.
It acquired stakes in Courtney Havers, a Tunbridge Wells-based agency based by business veteran Ray Tuffield; Bespoke-Recommendation Ltd, a Chartered IFA follow of 30 folks advising on £630m of shopper property with places of work in Worcester and London Metropolis and Clear Monetary Recommendation, a client-focused firm managing £120m of property. It additionally invested in Bigmore Associates, based mostly in Walton-on-Thames, which affords a variety of monetary recommendation.
The most recent stakes comply with the elevating of recent capital to fund the wealth managers’ UK growth plans earlier this month.
Söderberg raised a further €265m (£225m) funding from minority house owners KKR and TA by way of a brand new share concern.
Earlier this yr the group revealed plans to purchase a big minority stake in Tub-based advisory agency Fidelius for an undisclosed sum, in addition to investing in London wealth supervisor Classic and Croydon-based PK Monetary.
Söderberg purchased stakes in 4 IFA companies final yr. It acquired a minority shareholding in London-based Era Monetary Providers in December. In September the group acquired a majority stake in Timothy James & Companions and minority stakes in Cambridge-based Dartington Wealth Administration and Atherton York in North London.
The Swedish agency entered the UK adviser market in 2023 and mentioned it goals to associate with as much as 1,000 monetary advisers within the UK inside 5 years.
Söderberg & Companions was based in Sweden 2004 and has greater than 4,800 workers in 110 places of work in Sweden, Norway, Denmark, Finland, the Netherlands, Luxembourg and Spain, and greater than £70bn in property underneath administration and recommendation.
