Swedish wealth manager Söderberg & Partners has made investments in four more IFA firms as it continues to expand its presence within the UK advice market.
In a statement today (16 April) it said the firms are Cheetham Jackson, Blakes Financial Management Ltd, Active Financial Planners Ltd and Murphy Wealth Ltd,
Cheetham Jackson is an independent financial planning firm based in Chorley, with a further eight offices spread across the North of England. Cheetham Jackson advises on over £775m of client assets and has over 70 employee owners who are all dedicated to helping clients.
Blakes Financial Management is an established firm of independent financial advisers based in Aylesbury, Buckinghamshire, with a team of six experienced advisers. Founded in 2012 by its current managing director, Alan Butler, it manages in excess of £125m of client assets. The company has growing organically, mainly from recommendations, and has done so by providing a high level of personal service to clients.
Active Financial Planners is a chartered financial planning firm based in the North East. With 15 advisers and over £450m in AUM, Active celebrates its 25th anniversary this year.
Murphy Wealth is an IFA based in Glasgow and best known for its ‘Human First’ approach to financial planning. Managing £250m of assets, Murphy Wealth has clients across the country and looks after families, professionals and business owners. The firm’s success comes from the bespoke services offered to each client based on longstanding relationships and a deep understanding of their needs.
Gustaf Rentzhog, chief executive officer at Söderberg & Partners, said: “There is no shortage of high-quality financial advice firms in the UK, and we are proud to have found four more standout businesses to support as they grow. Investing in small, entrepreneurial financial advice firms which offer outstanding service to their clients is a core part of Söderberg & Partners’ strategy for expansion in the UK.”
Stuart Jackson, managing director and founder of Cheetham Jackson, said: “The strong cultural fit, shared values, and desire to create value for clients through efficient processes and the smart application of technology and automation, made the decision to move forward with Söderberg as our strategic partner a simple one. We look forward to accessing their expertise in key areas that will support our growth while we continue to focus on serving clients and delivering meaningful results for them and their families.”
Alan Butler, managing director and IFA, said: “Over the last decade, we had been approached by an average of two consolidators per month, with a view to either selling the business or entering into a partnership, and had always dismissed these. Our discussions, even at an early stage, with Söderberg were very different as they were totally focused on putting the clients first and foremost.
“We are delighted to enter into a strategic partnership with Söderberg & Partners as this will allow us to continue offering a high level of service to clients, while benefitting from enhanced technology and the vast experience and innovation of a highly respected, forward-thinking group. We are confident that the partnership will allow us to continue and accelerate our ambitious plans for growth, with the added peace of mind that client needs and best interests remain paramount.”
Karl Pemberton, managing director of Active Financial Planners, said: “Having always had a drive to be at the forefront of our industry, the retirement of one of our directors gave us another welcome opportunity to develop further with Söderberg, and look forward to our next 25 years.”
Adrian Murphy, CEO of Murphy Wealth, added: “This is the next step in the evolution of Murphy Wealth. We have been looking after families for nearly 50 years and this investment is about securing our future as an independent company, expanding our reach and ensuring we remain at the forefront of financial planning for decades to come.”
These investments form part of Söderberg’s long-term strategy to invest in small and growing UK advice businesses.
