Swedish wealth manager Söderberg & Partners has announced investments in three IFA firms as it expands its presence in the UK financial advice space.
Söderberg has invested in HCF Partnership and Essex Financial Management Ltd, based in Hertfordshire, Grosvenor Consultancy, based in Bristol and Swindon, and Prosperity IFA, based in Crowborough.
Söderberg & Partners chief executive officer, Gustaf Rentzhog, said: “Our strategy as we launched into the UK market has always been to invest in the best advice businesses we can find and help them move to the next level.
“With the resources and technology of a larger firm behind them, we are seeing the IFAs in which we invest develop their client offering and expand their regional businesses.
“We are delighted to be able to announce Söderberg & Partners has taken stakes in three more advice businesses, and we look forward to helping them scale up and improve efficiencies in future.”
HCF provides a range of services to help clients navigate their financial life, from owning a property, through to managing their wealth and health.
HCF’s goal is to provide its services to as many clients as possible with the financial and operational support of Söderberg.
Additionally, Grosvenor has around £650mn of client assets under management, with 16 advisers and 19 support staff.
Finally, Prosperity IFA manages £130mn of client money and builds “lasting relationships” with its clients to help them achieve their financial goals.
This follows previous investments with Söderberg having invested in four IFA firms back in April: Courtney Havers, Bespoke-Advice Ltd, Clear Financial Advice, and Bigmore Associates.
Earlier this year the group revealed plans to buy a “significant” minority stake in Bath-based advisory firm Fidelius for an undisclosed sum, as well as investing in London wealth manager Vintage and Croydon-based PK Financial.
Last year the firm took minority stakes in Timothy James & Partners, Dartington Wealth Management, Generation Financial Services, and Atherton York.
These marked Söderberg’s first major investments in the UK as part of its strategy to invest in advice firms and support their growth.
tom.dunstan@ft.com
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