Swedish group Söderberg & Partners invests in two more UK advisers

Swedish firm Söderberg & Partners has taken minority stakes in two UK advice firms as it continues to expand into the UK financial services space.

The group has made an investment in London-based wealth management firm, Vintage, which gives Söderberg a stake in the company in exchange for an undisclosed sum.

Vintage is a group of financial services businesses offering full-service advice to both the corporate and personal market. The group of companies includes wealth management with over £1.1bn in funds under management, with a strong employee benefit advice service, private medical brokerage and SSAS administration offering.

Söderberg has also made an investment in Croydon-based IFA, PK Financial, which offers independent professional advice to companies and individuals representing £150m in funds under management.

The founders of Vintage, Geoffrey Hartnell and Robert Stein, said: “We are delighted to have partnered with Söderberg. Its support will create significant growth opportunities for our staff and joint venture partners, who will continue to focus on providing market leading advice to clients.

“There is also an excellent cultural fit with S&P and we are impressed by its plans for the UK market where our strategies are highly compatible. The backing of Söderberg will increase our ability to hire exceptional staff, establish new JV partners and acquire like-minded independent wealth managers.”

PK Financial director, Jonathan Kelly, added: “As we embark on our next phase of development, we have ambitious intentions to grow our business and, with similar values, Soderberg & Partners has proved to be the perfect partner to help us achieve our goals and, most importantly, to enable us to continue to deliver and enhance consumer outcomes.”

The latest acquisitions follow Söderberg’s earlier purchase of stakes in four IFA firms as part of its growth strategy. The Swedish firm acquired a majority stake in Timothy James & Partners, and minority stakes in Cambridge-based Dartington Wealth Management, and Atherton York in North London. It also announced an investment in Generation Financial Services in December.

In June last year, Söderberg also revealed it had secured an additional €200m from minority owner KKR to help fund the growth of its adviser proposition.

Group CEO at Söderberg, Gustaf Rentzhog, commented: “As we scour the marketplace looking for the best small firms out there, we have seen some standout businesses delivering great outcomes to their clients. In Vintage we see a scalable platform with strong infrastructure and a fast-growing professional network, while PK Financial has exceptional levels of client service which we think will serve it well for the future.

“As the advice profession faces greater overheads and administrative burdens, we are proud to be able to support these businesses to focus on what they do best – building client relationships.”



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