- The investments in Timothy James & Partners Group, Dartington Wealth Management and Atherton York marks the Nordic wealth manager’s first major investments in the UK.
Swedish based Söderberg & Partners Group has acquired a majority stake in the independent financial advisory company Timothy James & Partners (TJP) from current owner Waverton Investment Management Group. Söderberg & Partners has also taken a minority stake in advice firms Dartington Wealth Management, based in Cambridge and Atherton York (Chartered Financial Planners) in North London. These investments mark an important step for the Nordic wealth manager and insurance intermediator’s intention to invest in UK based IFAs as announced earlier this year.
Gustaf Rentzhog, CEO and co-founder of Söderberg & Partners comments on the acquisition of TJP: “We’re not in the business of buying and consolidating. We believe in backing entrepreneurs with a clear vision, and helping them realise their goals. That is exactly what we see in Tim Whiting and the entire team at TJP. Entrepreneurs with a clear vision of what kind of values they want to create for their clients, and a hunger to constantly improve and go beyond what is expected from them. They put their clients first, which makes them a perfect match with Söderberg & Partners values. TJPs’ focus on media and sport is also a valuable complement to our current wealth management offerings tailored for niche clients, and we are proud to be partnering with them.”
Tim Whiting, founder, and Managing Director for TJP comments: “We have spent the last 6 months getting to know Söderberg & Partners and we have found Gustaf and his team to be personable, dynamic and all in all a great cultural fit for our business with strong client-first mentality and a focus on superb customer service. With their support we can build TJP to be a flagship for independent advice in the UK and together we will create a platform which offers functional up to date technology. This partnership enables future growth where our target is to acquire London IFA’s who want to ensure their clients receive bespoke personal independent advice”.
David Rosier, Chairman of Waverton Investment Management Group Ltd said: “Over the last 3 years Waverton has made and continues to make huge progress in terms of delivering our 5-year plan. It has become increasingly apparent that the TJP business has aspirations for its brand that are not aligned with ours. I am therefore delighted that we have identified Söderberg to partner with TJP and to take the business to the next stage of its growth”.
Söderberg & Partners acquisition in TJP is subject to approval from the FCA.
Gustaf Rentzhog is pleased with the response the company has received so far from IFAs in the UK:
“Our investment in Dartington Wealth Management and Atherton York is important for our expansion in UK and we will work closely with the companies and back them in broadening their offering, but also support their growth. By the end of next year we expect to have partnered with various firms who will, in total, be managing close to £10bn of client assets”.