Rapidly expanding Swedish-owned wealth manager and Financial Planner Söderberg & Partners has invested in four IFA firms as it continues it strategy of taking stakes in UK adviser firms.

The firm has taken undisclosed stakes in numerous adviser firms across the UK as it aims to build up a significant presence in the UK advice market.

The size of the stakes, the cost and the percentage of ownership have not been disclosed.

In July, Söderberg & Partners has invested in three more adviser firms as it expands its financial advice presence in the UK. The latest deals bring the total of UK firms invested in by the fast-growing firm to nearly 20.

The four firms are:

• George Square in Nottingham. George Square manages £400m of client assets with a team of 10 advisers and 10 support staff. The firm has an adviser covering London as well as two appointed representatives in Sheffield and Newark.
• Cheltenham IFA Ltd, an advice firm based in Cheltenham Spa. The firm was formed in 2008 and advises on £290m of client funds. It employs 13 local staff. Cheltenham IFA has a wealth management proposition at its core, S&P said.
• Bluezone Capital Ltd, a London-based IFA boutique with more than £90m in AUM. Bluezone Capital advises 500 families with wealth management and provides another 300 with mortgages and protection advice.
• Alexander Bates Campbell (ABC) is based in the south-east of England but serves clients throughout the UK, Europe and further afield. It has a directly-authorised business with private client assets under management of £140m and focuses on client relationships over the longer term as well as inter-generational Financial Planning. ABC has a European subsidiary providing services to private clients, with a cross border passport for all EU countries. ABC 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.”

George Goward, managing director of George Square, said: “With the UK market facing increasing challenges, the partnership is designed to strengthen George Square’s capabilities. Söderberg & Partners will support us in streamlining operations, enhancing efficiencies, and through providing back-office support, enabling the firm to continue its upward growth trajectory at an accelerated pace.”

Mark Stanley, director and independent financial adviser at Cheltenham IFA, said: “The partnership will allow us to accelerate growth through further business acquisitions whilst using enhanced technology to improve both our efficiency and our client proposition.”

Richard Alexander at ABC said: “For some years, we have been receiving regular approaches from consolidators within the industry, wanting to purchase our business, but in the majority of cases, they are more interested in the revenues from assets under management than providing the dedicated client relationship services that we have built our business on and which our clients have come to expect and enjoy. The initiative from Soderberg and Partners, which enables us to keep our own identity and style of business we believe, will enable us to satisfy our concerns over continuity for clients and staff in a financial environment, where the winds of change are blowing like a hurricane.”

Söderberg & Partners has received significant investment from minority owners KKR and TA Associates this year. In July it was announced that they would invest an extra £220m in the business through a new share issue, S&P said. This additional funding will support Söderberg & Partners’ continued expansion, particularly in the UK and Spain, according to the company.

• Chartered Financial Planning-focused Fairstone has completed the full acquisition of Aberdeen-based Forbes Lawson Wealth Management Limited. The deal boosts Fairstone’s funds under management to more than £17bn, with more than 125,000 clients across the group. Fairstone now has 20 locations across Scotland which it says remains a focus for the business.