Cardan is a Worcester-based firm that acquires financial advisory firms. 

Cardan made its first acquisition - of Chartered firm Bespoke-Advice Ltd - in October 2020. Since then the firm says it has increased Bespoke's assets under advice from £100m to £650m. 

Bespoke-Advice operates from two offices in Worcester and London, employs more than 30 people and has Chartered and B-Corp status.

The size of the stake Söderberg & Partners has taken in Cardan or the cost have not been disclosed.

Business consultant Hines, which advised on the deal, says the transaction involves the sale of a minority stake in Cardan and a commitment by Söderberg to invest in “future growth opportunities.”
 
Alex Morley, chief executive of Cardan, said: “It was a long journey to find a partner with a shared ethos and culture – Söderberg are a great fit for us and are very supportive.  We are now looking forward to developing Bespoke-Advice to its full potential and to making further acquisitions in due course."
 
Söderberg & Partners, one of Sweden’s biggest wealth managers has invested in a growing number of UK advice businesses in the past two year, typically taking minority stakes.

Earlier this month it invested in four more UK IFA firms to bring the total of UK firms invested in by the fast-growing firm to 11.

The four new firms invested in by Söderberg earlier this month were:

• Courtney Havers, a Tunbridge Wells-based firm founded by industry veteran Ray Tuffield.
• Bespoke-Advice Ltd, a Chartered IFA practice of 30 people advising on £630m of client assets with offices in Worcester and London City.
• Clear Financial Advice, a client-focused company managing £120m of assets.
• Bigmore Associates, based in Walton-on-Thames, which covers a range of financial advice.