Benchmark Capital acquires two AR advice firms adding £450m
- Simon Bourke
- 7 days ago
- 3 min read
Updated: 9 hours ago
5th February 2026
Benchmark Capital, the Schroders-owned financial planning solutions provider, has acquired two long-standing client firms, Caroline Banks & Associates (CB&A) and Verum Financial LLP, in a deal that adds more than £450m of client assets to the business.
Who is Benchmark Capital?
Benchmark Capital is a financial planning solutions provider owned by Schroders, operating an integrated model that combines platform technology, investment solutions and practice management support. The business manages £20bn of assets on its Fusion Wealth platform and £6bn in model portfolios, and runs the Best Practice appointed representative network.
Who are Caroline Banks & Associates and Verum Financial LLP?
Both firms are long-standing clients of Benchmark, and operate as appointed representatives within Benchmark’s Best Practice network.
Caroline Banks & Associates is a London-based advice firm with three advisers managing over £200m in client assets. Founded and led by managing director Caroline Banks, the firm has partnered with Benchmark for 11 years as an appointed representative of the Best Practice network.
Verum Financial LLP, located near Canterbury, operates with a team of six advisers overseeing more than £250m in client assets.
Why is Benchmark acquiring Caroline Banks & Associates and Verum Financial LLP?
The stated rationale in the reporting of the deal is succession and continuity: Benchmark said the acquisitions provide a “clear, structured succession path” for the business owners, with both teams joining Benchmark’s financial planning business post-transaction. Comments attributed to Ed Dymott, Caroline Banks and Lee Giles emphasised continuity for clients and staff and the firms’ existing use of Benchmark’s proposition.
What happens next?
The management teams and staff from both Caroline Banks & Associates and Verum Financial will integrate into Benchmark's financial planning business. Benchmark indicated these acquisitions mark "an important step in its strategy to support financial planning businesses at every stage of their journey.” No regulatory timeline or specific integration milestones have been publicly disclosed.
Benchmark Capital’s other recent acquisitions
Oculus Wealth Management – April 2025
Acquisition of the remaining minority stake in the Harrogate-based appointed representative network with £4bn in assets under advice across 46 advisory firms, completing Benchmark's full ownership.
Robertson Baxter – February 2025
Acquisition of the Huddersfield-based adviser firm with £200m in assets under advice, continuing Benchmark's strategy of acquiring established regional practices.
Champain Financial Services – December 2023
Acquisition of the Hayward Heath-based firm with £111m in assets under management, expanding Benchmark's presence in the South East.
FAQs
What happens to the advisers and staff at the acquired firms?
Both management teams and staff are joining Benchmark as part of the integration into the financial planning business, with continuity for existing client relationships maintained.
What size firms is Benchmark typically acquiring?
Based on disclosed figures, acquired firms have ranged from £111m of client assets (Champain Financial Services, December 2023) to £755m of assets under management (Unique Financial Planning, July 2023), with adviser teams varying from three to over 30 professionals, suggesting interest across a range of established practice sizes.
Who owns Benchmark Capital?
Benchmark Capital is owned by Schroders. Reuters reported in December 2025 that Schroders was examining strategic options for Benchmark and had engaged Perella Weinberg Partners.
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