Swedish wealth manager Söderberg & Partners has made investments in a further four UK-based IFA companies as it seeks to expand its presence in the UK’s financial advice sector.

It has invested in Nottingham-based firm George Square, which manages £400m of client assets with a team of 10 advisers and 10 support staff.

Cheltenham IFA Ltd also received investment from Söderberg & Partners, with the Cheltenham Spa-based company advising on £290m of client funds with 13 local employees.

Söderberg & Partners noted that Cheltenham IFA Ltd has a wealth management proposition “at its core” and builds long-lasting relationships with its clients that regularly progress to the next generation.

The Swedish wealth manager also invested in Bluezone Capital Ltd, which is a London-based boutique with more than £90m in assets under management.

The firm supports around 500 family units with wealth management, and another 300 with mortgages and protection.

Finally, Söderberg & Partners has invested in Alexander Bates Campbell (ABC), an IFA firm based in the south-east of England that 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.

ABC also looks after corporates with international operations with solutions including employee benefits, payroll and HR services.

Commenting on the announcements, Söderberg & Partners chief executive officer, Gustaf Rentzhog, 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 Square managing director, George Goward, commented: “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.

“We are thrilled to welcome Söderberg & Partners as our strategic partner. Its investment in George Square underscores the firm’s belief in our future and confidence in our vision, and its support will be invaluable as we build on our recent acquisition of Taylor McGill Financial Management.”

ABC director and compliance officer, Richard Alexander, added: “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 Söderberg & 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.”

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