Wealth manager Söderberg & Partners has taken minority stakes in two more UK advice firms, taking its number of acquisitions to six as it continues to push into the UK financials space.
Following its investment into London-based Generation Financial Services last month, the firm has become a shareholder in the London wealth manager Vintage and the Croydon-based IFA PK Financial.
Vintage is a London-based group of financial services businesses that offer full advice to both the corporate and personal market. With over £1.1bn in funds under management (FUM), this group of companies includes wealth management and the stake was acquired for an undisclosed sum.
PK Financial offers independent professional advice to companies and individuals representing £150m FUM.
See also: Söderberg & Partners makes fourth IFA purchase
“As we scour the marketplace looking for the best small firms out there, we have seen some standout businesses delivering great outcomes to their clients,” said Gustaf Rentzhog, group chief executive at Söderberg & Partners.
“In Vintage we see a scalable platform with strong infrastructure and a fast-growing professional network, while PK Financial has exceptional levels of client service which we think will serve it well for the future,” he added. “As the advice profession faces greater overheads and administrative burdens, we are proud to be able to support these businesses to focus on what they do best – building client relationships.”
