Schroders completes sale of Benchmark to Söderberg & Partners

Schroders has completed the sale of its integrated financial advice business Benchmark to Söderberg & Partners.

The transaction, which was first announced in July, forms part of Schroders’ plans to reshape its wealth management businesses.

The firm is looking to create a wealth management business centred on Cazenove Capital in the UK and Schroders Wealth Management internationally.

Schroders said this would enable continued investment in people, technology, and client capabilities.

As part of the transaction, Schroders and Söderberg & Partners will build on their existing relationship, with Schroders becoming a long-term asset management partner to the combined business, providing whole-portfolio solutions.

Schroders added that, for Benchmark, the deal would provide the ownership structure, investment, and strategic backing to support its next phase of growth in the advice market, while ensuring continuity for advisers and clients.

Ownership of Schroders Investment Portfolio Services, a company that provides services under the Schroders Investment Solutions brand, has transferred to the Söderberg & Partners group.

Perella Weinberg Partners and Slaughter and May acted as advisers to Schroders on the deal, while Fenchurch and White & Case acted as advisers to Söderberg & Partners.

Söderberg & Partners is a wealth management group founded in Sweden in 2004, with £108bn in assets under advice.

It entered the UK market in 2024, and the group has made several acquisitions in the country since then.

---