Swedish wealth supervisor Söderberg & Companions has invested in three extra adviser corporations because it expands its monetary recommendation presence within the UK.
The most recent offers deliver the whole of UK corporations invested in by the fast-growing agency to fifteen.
Söderberg, one in every of Sweden’s largest wealth managers, has invested in a rising variety of UK recommendation companies previously two years, usually taking sizeable minority stakes.
The stake taken in every of the three corporations introduced immediately has not been disclosed.
The three corporations the wealth supervisor has invested in are:
- HCF Partnership and Essex Monetary Administration Ltd, based mostly in Radlett, Hertfordshire. These two monetary providers corporations have been in enterprise since 1982.
- Grosvenor Consultancy, a regional IFA based mostly in Bristol and Swindon. The agency has round £650m of consumer belongings underneath administration, with 16 advisers and 19 assist employees.
- Prosperity IFA, a Crowborough-based agency based in 2012 by Simon Munday. Prosperity IFA manages round £130m of consumer cash. It’s an affiliate member of the Private Finance Society.
Gustaf Rentzhog, CEO at Söderberg & Companions, stated the investments within the corporations are a part of the wealth supervisor’s persevering with technique to spend money on adviser corporations that wish to scale up.
He stated: “Our technique as we launched into the UK market has at all times been to spend money on the most effective recommendation companies we will discover and assist them transfer to the subsequent stage.”
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The wealth supervisor took a stake in 4 different IFA corporations in April.
The most recent stakes comply with the elevating of recent capital to fund the wealth managers’ UK growth plans earlier this month.
Earlier this 12 months 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 corporations final 12 months. It acquired a minority shareholding in London-based Technology Monetary Companies 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 stated 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 belongings underneath administration and recommendation.
