21st October 2024
Swedish advisory firm Söderberg & Partners is rapidly expanding into the UK wealth management market by investing in four British IFA firms. Since entering the UK in April 2023, Söderberg has acquired stakes in several advisory firms. Its latest deals involve George Square based in Nottingham, Cheltenham IFA, Bluezone Capital in London, and Alexander Bates Campbell (ABC) in southeast England.
Söderberg CEO Gustaf Rentzhog expressed the company's commitment to the UK market, describing it as a top strategic priority. "Our minority stakes in George Square, Cheltenham IFA, Bluezone Capital, and ABC will support the development of these businesses, which have a strong track record in positive client outcomes and customer service," he said.
Each firm brings unique strengths to the partnership. George Square, managing £400m in client assets, and Cheltenham IFA, with £290m under advice, both see Söderberg’s investment as an opportunity to enhance operational efficiencies and accelerate growth. Bluezone Capital, a boutique IFA managing £90m, and ABC, with £140m in private client assets, also look forward to leveraging Söderberg’s expertise to improve their client offerings.
This latest round of acquisitions is part of Söderberg & Partners’ ambitious growth plans, fueled by additional capital from minority investors KKR and TA Associates. In July 2024, the company raised £220m through a new share issue to support its continued expansion, with a particular focus on the UK and Spain.
Rentzhog highlighted the importance of scaling up its operations in the UK, aiming to become a leading regional player within a few years. He emphasised that the new capital would streamline administration and apply proven technology across their acquired firms, ensuring a strong and efficient platform for future growth.
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