Söderberg & Partners: ‘We're speaking to advisers with at least £100mn’

Search sponsored by
Söderberg & Partners: ‘We're speaking to advisers with at least £100mn’
Bill Vasilieff, who will take on the role as chairperson of the board for the UK company, Söderberg & Partners Wealth Management.
BySonia Rach

Söderberg & Partners has announced its intention to establish an independent financial advice and investment management business in the UK.

Established in 2004, Söderberg & Partners is a non-bank financial adviser and investment manager in Scandinavia. 

It manages over £60bn of clients’ investments and employs 3,000 people in seven countries.

Speaking to FTAdviser today (February 14), Bill Vasilieff, who will take on the role as chairperson of the board for the UK company, said the firm is currently in advanced discussions with about 20 IFA firms.

He said firms that join the group would not be part of the wider group, but instead Söderberg will hold minority stakes in the businesses - a model it already operates elsewhere.

He said. “It's not like a consolidator, we're actually taking stakes in businesses and backing the management and helping them finance their growth opportunities.”

The firm aims to partner with 500 to 1,000 advisers within the next five years and will offer financial advice and investment solutions through its partnerships in the UK. 

“Typically, the firms would be £100mn plus but key to that we're looking at firms that really are ambitious, and want to grow,” he said.

“We've got some very big firms we're speaking to - firms with over £1bn assets under advice and we do anticipate announcing them in the first quarter.”

To lead this, Söderberg & Partners has appointed Vasilieff, co-founder and former chief executive officer of Novia, and Nick Raine, former chief operating officer for Novia. 

Raine will take on the role as CEO, while Vasilieff will be chairperson.

Vasilieff said he is excited about the new project that “lured” him out of retirement. 

“When Gustaf approached me and explained the depth of the proposition, I immediately saw it as truly innovative and unique in the UK adviser market. I am very excited to be involved in the launch into the UK.”

With access to over 4,000 funds, and an in-house research team, the group intends to make available investment solutions via a technology led solution which will launch by the end of the third quarter.

Vasilieff said: “Söderberg is a big player in the Nordic region and the primary focus is on taking minority stakes in ambitious growth orientated adviser firms and providing access to finance to help them grow their business. 

“The second part, as well as taking stakes in adviser businesses, we will be launching a platform and some sort of fund management facility, but also more technology.”

He told FTAdviser that Söderberg has 145 developers in Sweden and it intends to have the first fully integrated CRM system with the platform plus other technologies.