Söderberg takes stakes in 4 more IFA firms
Swedish wealth manager Söderberg & Partners has invested in four more IFA firms as it expands its financial advice presence in the UK.
The latest deals bring the total of UK firms invested in by the fast-growing firm to 11.
Gustaf Rentzhog, chief executive, said the firm was not a consolidator. He said: "Rather our goal is to support passionate entrepreneurs to achieve their vision for their advice businesses. In the UK we have found many strong examples of fantastic businesses which deliver outstanding outcomes to their clients, and we are pleased to back them with our scale and resources.”
The four new firms invested in by Söderberg are:
- 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.
Ray Tuffield, founder of Courtney Havers, said: “Culturally, Söderberg & Partners are an excellent fit for us.”
Alex Morley, managing director of Bespoke-Advice, said: “Our strategy of acquiring retiring adviser books to ensure a continuation of independent advice through our employed advisers is well received by clients and retiring advisers alike. Our culture and ethos align perfectly with Söderberg, allowing the opportunity for us to accelerate growth while remaining true to our core values and beliefs.”
Barry Greening, founder and director of Clear Financial Advice, said: “From the start, it was clear that our values were perfectly matched with Söderberg’s dynamic approach. Anticipation is high as we initiate the next stage of our company’s progression with a long-held desire to broader our services into specialised sectors.”
Adam Nettleship, managing director of Bigmore Associates, said: “Working with Söderberg & Partners will enable us to be leaders of the futures of Financial Planning.”
Söderberg & Partners has now invested into a total of 11 UK advice firms. Earlier this year it 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.
Söderberg bought stakes in four IFA firms last year. It acquired a minority shareholding in London-based Generation Financial Services in December. In September the group acquired a majority stake in Timothy James & Partners and minority stakes in Cambridge-based Dartington Wealth Management and Atherton York in North London.
The Swedish firm entered the UK adviser market in 2023 and said it aims to partner with up to 1,000 financial advisers in the UK within five years. Söderberg & Partners was founded in Sweden 2004 and has more than 4,000 employees in 110 offices in Sweden, Norway, Denmark, Finland, the Netherlands, Luxembourg and Spain, and more than £60bn in assets under management and advice.
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