Söderberg & Partners has made investments in four more IFA firms as it expands its presence in the UK financial advice space.
The Swedish wealth manager took minority stakes in George Square, Cheltenham IFA Ltd, Bluezone Capital Ltd and Alexander Bates Campbell (ABC).
George Square, based in Nottingham, manages £400m of client assets with a team of 10 advisers and 10 support staff. It also has an adviser covering London from Worthing, as well as two appointed representatives in Sheffield and Newark.
Cheltenham IFA Ltd, formed in 2008, advises on £290m of client funds and employs 13 local staff.
Bluezone Capital Ltd is a London-based IFA boutique with more than £90m in AUM. It helps around 500 family units with wealth management and another 300 with mortgages and protection.
Alexander Bates Campbell (ABC) is based in the south-east of England but serves clients throughout the UK, Europe and further afield.
ABC has a directly authorised business with private client assets under management of £140m, focusing on maintaining strong client relationships over the longer term and intergenerational financial planning.
The firm has a European subsidiary providing a full range of services to private clients, with a cross-border passport for all EU countries.
It also looks after corporates with international operations, with solutions including employee benefits, payroll and HR services.
Gustaf Rentzhog, chief executive at Söderberg & Partners, said: “The UK advice market is a top strategic priority for us and we have identified numerous attractive businesses here in our search for new investment opportunities.
“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. We look forward to partnering with them to help take these firms into their next phase of growth.”
Söderberg & Partners has itself received significant investment from its minority owners KKR and TA Associates this year.
In July it was announced that they would invest an extra £225m in the business through a new share issue. This additional funding will support Söderberg & Partners’ continued expansion, particularly in the UK and Spain.
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