Nordic wealth giant Söderberg& Partners has agreed to buy Waverton Investment Management’s majority stake in Timothy James & Partners (TJP).
Dyer Baade & Company acted as exclusive financial adviser to Waverton.
Transaction Overview
Deal Type: Acquisition
Industry/Sector: Wealth Management
Size: Not disclosed
Year: 2023
Mandate: Exclusive Financial Adviser
Lead Partner:
Daniel Baade
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Email: daniel.baade@dyerbaade.com
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The deal for TJP, which is for an undisclosed sum, is a major win for the new entrant to the UK market, adding a London-based firm which looks after £1.2bn in assets to its partnership stable.
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”.
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. Established in 2004, Söderberg & Partners is a non-bank financial adviser and investment manager in Scandinavia.
Dyer Baade acted as exclusive financial adviser to Waverton.
[subject to regulatory approval]
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