Acquisitive Swedish wealth manager Söderberg & Partners has taken substantial stakes in three more Financial Planning firms, pushing up its acquisitions so far this year to four.
The investments cover firms in North Yorkshire, Hertfordshire and Lincolnshire.
Collectively, the firms total around £1.1bn in client assets under advice or management.
The three firms are:
- MoneyWeb Financial Advisers, a financial advisory firm based in Scarborough, North Yorkshire. Currently managing c£300m of assets for more than 600 private clients and 50 corporate companies
- Oakwood Asset Management was established by three founding partners in 2009 and has offices in Hertfordshire and Essex. It has seven advisers managing £600m in assets.
- Liberty Partnership Ltd, based in Lincolnshire with a newly opened office in Bourne. Founded by Chartered Financial Planners Richard Ash and David Gregg, it currently advises on over £240m of client assets.
Gustaf Rentzhog, CEO of Söderberg & Partners, said: “As we expand our position in the UK marketplace, we are proud to be working closely with these businesses which are so important to the people they serve.”
Paul Robinson, director at MoneyWeb, said its investment from Söderberg will enable the firm to improve its client offering.
He said: “This partnership allows us to retain our culture while gaining access to enhanced technology, expertise and scale – ultimately strengthening the service and outcomes we deliver for our clients.”
Last month Söderberg invested in Artorius Wealth Management, entering into the UK high net worth and family office space. At the time the firm said that is was looking to acquire more specialist firms and teams looking to move away from larger banks and wealth managers.
Söderberg & Partners was founded in Sweden in 2004 and has a presence in Sweden, Norway, Denmark, Finland, the Netherlands, Luxembourg, Spain and the United Kingdom.
It has more than 4,400 employees and £81bn in assets under management and assets under advice.