Söderberg & Partners is launching an adviser platform which claims to “reduce administrative burden”.
The Swedish-owned wealth manager said the platform, powered by Seccl, is the first step on its journey towards offering an end-to-end solution.
It will allow for instant deposits, cash management with no minimum cash balance required, tiered adviser charging and paperless systems with no need for signatures.
Nick Raine, CEO of Söderberg & Partners’ UK business, said: “We want to reduce the administrative burden on advice firms so they can concentrate on helping their clients and save money.
“With this launch, we are looking to our Nordic roots for inspiration, and to learn lessons about how we can improve adviser-to-administrator ratios to make advice more efficient. Our overall aim is to reduce the cost of advice and support advisers to deliver better service to end clients.
“First-class technology solutions have been key to the success of Söderberg & Partners in Sweden and we are delighted to now be able to bring this approach to the UK with the launch of our market-leading platform proposition.”
Raine added that other partners are set to be announced in the coming months.
The firm is still awaiting FCA approval for the launch of the platform.
David Ferguson, CEO of Seccl, said: “As a leading investment manager in the Nordics, with £60bn of assets under management, it’s incredibly exciting to have Söderberg & Partners enter the UK market.
“They’re as passionate as we are about bringing true efficiency and connectivity to advice firms, and have a clear ambition to bring change to the industry by doing things better. With our hyper-efficient infrastructure, Seccl’s embedded investment platform is perfectly placed to deliver this, helping advisers grow their businesses and deliver better outcomes for their customers.”
Back in September, Söderberg & Partners bought a majority stake in advice firm Timothy James & Partners, while also taking minority stakes in two other firms - Dartington Wealth Management, based in Cambridge and Atherton York in North London.
The Nordic wealth manager said these investments marked an important step for its intention to invest in UK based IFAs as announced earlier this year.
In an interview with FTAdviser in February, Söderberg & Partners announced its intention to establish an IFA and investment management business in the UK.
Established in 2004, Söderberg & Partners is a non-bank financial adviser and investment manager in Scandinavia.
Bill Vasilieff, who earlier this year took on the role as chairperson of the UK company, said the firm was in advanced discussions with about 20 advice firms at the time
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.
tara.o'connor@ft.com
What's your view?
Have your say in the comments section below or email us: ftadviser.newsdesk@ft.com
