Rapidly expanding Swedish-owned wealth manager and Financial Planner Söderberg & Partners has invested in three IFA firms as it continues its strategy of taking stakes in UK advisers.

The size of the stakes, the cost and the percentage of ownership have not been disclosed.

The three firms are:

• Cromer, Norfolk-based Hoyl Independent Advisers, which has more than £3bn in assets. It has offices in Chelmsford, Derby and London and a network of 42 advisers.
• Midlands Financial Planning firm Intelligent I-FA, which has more than £300m in client assets. It has a team of 13 experience advisers.
• Yorkshire-based Mosaac Ltd, which has more than £230m in assets.

Gustaf Rentzhog, chief executive at Söderberg & Partners, said: “We have found a wealth of investment opportunities across the UK financial advice space in our search for innovative firms with strong growth potential. The quality of financial advice given and the longevity of relationships built gives these firms the edge, and we are delighted to be able to support their ambitions for the future.

"Investing in British financial services businesses is the cornerstone of our expansion strategy in this market, and we have been consistently impressed with the high calibre of businesses we have found.”

Mick Ramage, managing director of Hoyl, said: “As the advice gap in the UK continues to widen, this new partnership will enhance our operations and enable us to offer comprehensive financial advice to even more clients at a highly competitive cost.” 

Mihir Shah, Sonni Assi, Ramsy Dhillon, Sukhpal Toor, Founders of I-FA, said: “Our strategy for growth, while maintaining giving independent advice to clients, is a reason for our partnership with Söderberg & Partners.”

Daryl Clark, director of Mosaac, said: “This marks a significant milestone in our journey as we continue to provide tailored financial advice and services to our valued clients.”

Söderberg entered the UK adviser market in 2023 when it said it aimed to partner with up to 1,000 financial advisers in the UK within five years.

Following many months of minority stake acquisitions, it now has an interest in more than 20 UK adviser businesses.

In October it invested in four IFA firms: George Square in Nottingham, Cheltenham IFA, London-based Bluezone Capital, and Alexander Bates Campbell (ABC) in the south-east of England.

In July it took stakes in three firms: HCF Partnership and Essex Financial Management Ltd, based in Radlett, Hertfordshire, regional IFA Grosvenor Consultancy based in Bristol and Swindon, and Crowborough-based firm Prosperity IFA.

It received significant investment from minority owners KKR and TA Associates this year. In July it was announced that they would invest an extra £220m in the business through a new share issue. The additional funding is being used to support Söderberg & Partners’ continued expansion, particularly in the UK and Spain, according to the company.