Schroders has struck a deal to sell its advice arm Benchmark Capital to Swedish wealth management firm Söderberg & Partners, as it steps up its pivot towards wealth management and high net-worth clientele.
Transaction Details
Under the terms of the agreement, Schroders will become a long-term asset manager to Söderberg & Partners while relinquishing direct ownership of the financial planning business. The two companies did not disclose the financial terms of the transaction.
Söderberg has snapped up a number of minority stakes in advice firms and rolled out its own in-house platform, Seccl, since making its entrance into the UK market in 2023. It oversees £108bn in assets under advice, positioning it amongst Europe's largest wealth managers.
Benchmark's Operations
Benchmark operates three advice networks — Best Practice IFA, Oculus Wealth Management and Evolution Wealth — alongside its own investment platform, Fusion Wealth, as reported by City AM. Benchmark chief executive Ed Dymott took to LinkedIn to share his thoughts: "I firmly believe this transaction provides Benchmark with the ownership structure and backing to support our next phase of growth. Söderberg & Partners are committing to invest significantly in the UK, and are committed to bringing the best adviser solutions, the best technology and the best service to be the leading wealth business."
Continuity and Future Plans
"There is a focus on continuity, and whilst we will want to make future changes, there is little we will see change in the near term," Dymott added. The acquisition is anticipated to conclude before the year is out, pending FCA approval. Fenchurch and White & Case served as advisers to Söderberg & Partners on the transaction, while Perella Weinberg Partners and Slaughter and May acted for Schroders.
Strategic Shift for Schroders
Dymott added that the disposal will enable Schroders to direct its "focus on its core activities", with the asset manager having also wound down its joint advice venture with Lloyds at the close of last year and offloading its stake in Schroders Personal Wealth. The sale of Benchmark completes its withdrawal from the UK advice market, though it has maintained its wealth management presence via Cazenove Capital. Chief executive Richard Oldfield has pledged to retain the business following Schroders' £9.9bn acquisition by US fund manager Nuveen.
Broader Industry Context
Schroders agreed to a takeover by Nuveen in February, bringing more than two centuries of independence to a close, with the deal poised to create one of the world's largest active asset managers. Schroders' disposal of Benchmark also represents the latest in a succession of both British and European asset managers falling into the hands of overseas buyers, with total deal value surging from $5.1bn (£3.8bn) in 2024 to $47.9bn in 2025.
Benchmark's UK Presence
Benchmark has offices across the UK including in Brighton, Chester, Swindon, Shrewsbury and Stratford upon Avon.
