Saltus says it will remain a standalone proposition with no major changes for clients.

Management and existing individual shareholders will continue to hold a stake in the company.

Andrea Secci, managing director of PCP will join the board of Saltus along with PCP managing partner Jatender Auijla.

Saltus said it plans to use the funds from the investment to develop its technology and broaden the reach of the Saltus Partnerships Programme.

The partnerships programme combines Saltus’ technology with its platform and investment offerings to provide a solution for advisers.

PCP specialises in acquiring financial services business. It’s typical investments in companies are in the region of £50m-£150m.

PCP has several investments within the Financial Planning, wealth management and investment sectors.

Its holdings include a majority stake in the Parmenion platform which it acquired from Standard Life Aberdeen in a deal valued at £102m in March 2021.

Mr Secci said PCP was attracted to invest in Saltus due to its double-digital organic growth rates, high retention rates and vertically integrated business model. She said PCP plans to support the firm to “supercharge growth.”

Jon Macintosh, managing partner at Saltus, said: “We have grown significantly over the past few years – both organically and through the acquisitions we have made – and as a result are seeing increasing demand from high net worth clients for our goal-focussed Financial Planning and wealth management services.

“The next step in our evolution is to create an offering to support the UK’s most sophisticated and high-end financial advisers so that they can grow their business faster, maximise value, and focus on doing the bits of their job they love the most – looking after clients and winning new ones.

“We believe PCP’s insight, experience and capital will significantly enhance our ability to expand the Saltus business and cement our position as the leading HNW wealth manager in the UK.”

Saltus has made three acquisitions over the past year including London-based Chartered Financial Planning firm Higgins Fairbairn Advisory LLP, Fish Financial and NSL Wealth. 

The firm also acquired Lorica in 2020 and Consilia in March 2021.

Earlier this year Saltus appointed Alex Spreckley as managing director of Financial Planning. He joined from Handelsbanken Wealth & Asset Management where he was head of wealth management and will help to drive a push to take the firm to Chartered status.

The Saltus Group employs over 120 people. It has assets under management and advice of £2.3bn and expects to reach £4bn by the end of the year.