The £108bn European wealth manager acquires Benchmark as Schroders sharpens focus on core wealth and asset management units.
Schroders has agreed to sell its UK financial advice business Benchmark to Söderberg & Partners for an undisclosed sum. The move aligns with Schroders’ March 2025 strategy to streamline operations and concentrate wealth management on Cazenove Capital and international units.
Söderberg & Partners, which oversees £108bn in advised assets, will gain Benchmark’s UK client base and advisory capabilities. Schroders will retain a strategic partnership, supplying asset management solutions to the combined entity.
The deal is expected to close in the coming months, pending regulatory approvals. Schroders’ wealth management CEO Oliver Gregson called the transaction a key milestone in executing the group’s long-term strategy.