Saltus secures 'significant' PE backing

Saltus secures 'significant' PE backing

Wealth manager Saltus Group has secured "significant" investment from private equity firm Preservation Capital Partners.

Following completion of the funding, PCP will hold a majority stake, alongside management and the existing shareholder base of high net worth individuals.  

As part of the deal, PCP managing director Andrea Secci and managing partner Jatender Aujla will join the board of Saltus.

Saltus said the investment will “accelerate its current growth trajectory” through access to capital, further investment in technology to improve both client and adviser outcomes and by broadening the reach of the Saltus Partnerships Programme.

The SPP is a new initiative which combines the group’s technology with its platform and investment offerings to create a flexible solution for advisers.  

Saltus managing partner Jon Macintosh, said: “We have grown significantly over the past few years – both organically and through the acquisitions we have made – and as a result are seeing increasing demand from high net worth clients for our goal-focussed financial planning and wealth management services.

“The next step in our evolution is to create an offering to support the UK’s most sophisticated and high-end financial advisers so that they can grow their business faster, maximise value, and focus on doing the bits of their job they love the most – looking after clients and winning new ones.”

He added: “We believe PCP’s insight, experience and capital will significantly enhance our ability to expand the Saltus business and cement our position as the leading HNW wealth manager in the UK.”

PCP is a private equity firm specialising in investing in high growth financial technology and services sector. It already owns a stake in Parmenion.

Saltus said the deal will not impact clients in any way and the brand will be retained. 

Secci said: “The central principle of our investment approach is to back outstanding management teams that have demonstrated an ability to outperform the market. Saltus has industry-leading double-digit organic growth rates, incredibly high retention and a unique vertically integrated business model. 

“We are delighted to be supporting the firm to supercharge growth and make that ambition a reality.”

Last month, Saltus Group bought Higgins Fairbairn Advisory, an independent chartered financial planner based in London, which marked the group’s third acquisition in a year.

In April, it purchased Hertfordshire-based wealth management firm NSL Wealth as part of its long-term growth strategy and in February, Saltus appointed Alex Spreckley as managing director of financial planning, as it looked to grow its advisory arm.

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