UK asset manager Schroders has agreed to the sale of Benchmark, its UK-based financial advice business, as part of a reshaping of its wealth management business.
Benchmark has been sold to Nordic wealth manager Söderberg & Partners for an undisclosed sum.
Schroders will become a “long-term asset management partner” to Söderberg & Partners, which has £108 billion in assets under management (AuM).
According to Schroders, the sale is in keeping with its wealth management strategy, announced in March 2025, to simplify the group structure and “concentrate its investment on the areas where it can generate the greatest long-term value” for clients.
Following the sale, Schroders’ wealth management business will focus on Cazenove Capital in the UK and Schroders Wealth Management internationally.
According to Oliver Gregson, CEO of wealth management at Schroders, the transaction enables Schroders to “concentrate our investment, expertise and ambition behind the clients and markets where we have the strongest right to win and where we believe we can create the greatest long-term value”.
Gustaf Rentzhog, CEO of Söderberg & Partners, referred to the “significant potential” of its acquisition.
“Achieving greater scale is important for the future to enable us to offer efficient solutions and world-class services to both advisers and clients – particularly when it comes to technology.”
The deal means that Schroders has effectively exited the UK advice market, following the sale of its advice venture Schroders Personal Wealth to UK bank Lloyds in October 2025.
Back in February, Schroders agreed to its acquisition by US fund manager Nuveen in a £9.9 billion cash deal that would create one of the largest active asset managers globally with around S2.5 trillion in AuM.
