Söderberg & Partners takes stakes in two UK advice firms in growth push

Söderberg & Partners has taken minority stakes in two UK advice firms as it continues to make its mark in the UK financial services space.

The group has made an investment in London wealth management firm Vintage. The investment gives Söderberg & Partners a stake in the company in exchange for an undisclosed sum.

Vintage is a London based group of financial services businesses offering full-service advice to both the corporate and personal market. The group of companies includes wealth management with over £1.1bn in funds under management with a strong employee benefit advice service, private medical brokerage and SSAS administration offering. Vintage has built its reputation for offering market leading independent advice through growing its professional JV network, strengthening its exceptional employee base and more recently successfully integrating multiple acquisitions.

Söderberg & Partners has also made an investment in PK Financial, a Croydon-based IFA. PK Financial offers independent professional advice to companies and individuals representing £150m Fund Under Management. With a highly experienced team led by directors Prakash Patel and Jonathan Kelly, the firm prides itself on building relationships with clients and delivering tailored solutions. For more than 40 years PK Financial has supported the diverse needs of individuals and businesses alike and has built a longstanding loyal client base that has become multigenerational.

Gustaf Rentzhog, Group Chief Executive Officer at Söderberg & Partners said: “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. 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. 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.”

The founders of Vintage, Geoffrey Hartnell and Robert Stein, added: “We are delighted to have partnered with Söderberg & Partners. Their support will create significant growth opportunities for our staff and joint venture partners, who will continue to focus on providing market leading advice to clients. There is also an excellent cultural fit with S&P and we are impressed by their plans for the UK market where our strategies are highly compatible. The backing of Söderberg and Partners will increase our ability to hire exceptional staff, establish new JV partners and acquire like-minded independent wealth managers. Over the last six months we have built a significant understanding of the Soderberg & Partners team under the dynamic leadership of Gustaf Rentzhog, and we look forward to a long and successful future as we embark on the next phase of our development.”

Jonathan Kelly, director of PK Financial, commented, “Over the past 40 years our business has grown to suit the needs of our diverse and loyal client base. As we embark on our next phase of development, we have ambitious intentions to grow our business and, with similar values, Soderberg & Partners has proved to be the perfect partner to help us achieve our goals and, most importantly, to enable us to continue to deliver and enhance consumer outcomes”.

This latest acquisition follows Swedish financial adviser Söderberg & Partners’ earlier purchase of stakes in four IFA firms as part of its growth strategy. The business acquired a majority stake in Timothy James & Partners, and minority stakes in Cambridge-based Dartington Wealth Management and Atherton York in North London. It also announced an investment in Generation Financial Services in December.

In June Söderberg & Partners announced it had secured an additional EUR 200 million from minority owner KKR to help fund the growth of its adviser proposition.

For more information, please contact:
Pippa Russell, Director Russell Communications
pippa@russellcommunications.co.uk
+44 7740933120