News releases

Schroders invests in Benchmark Capital, a technology-led, high quality UK adviser support business

10/11/2016

Today Schroders announces that it has reached agreement to make a strategic investment in Benchmark Capital, a technology-led, high-quality adviser support business based in the UK, subject to regulatory approval.

Founded in 2003, Benchmark Capital consists of a technology company, an institutional funds platform, and both a chartered firm and network of independent financial advisers. It also has a small restricted advice business.

Ian Cooke, Chief Executive of Benchmark Capital, will remain a core owner of the business after Schroders’ investment. The existing executive team will continue to run the business day-to-day. Peter Harrison, Group Chief Executive of Schroders, will join the Board of Benchmark Capital as Chairman. Robin Stoakley, Director of Intermediary and Andrew Ross, Global Head of Wealth Management, will join as non-executive Directors.

Peter Harrison, Group Chief Executive at Schroders, said:

“This is a significant step in the growth of our presence in the UK retail investment market which is of strategic importance to the Group. There is a strong cultural fit between our two businesses, with a shared commitment to delivering investment excellence and high-quality service for clients.”

Ian Cooke, Chief Executive at Benchmark Capital, said:

“Our business has grown significantly over the last few years by focusing on integrated technology and professionalism and we have been actively seeking to partner with a company who shares our values and explore new opportunities. Partnering with Schroders, a FTSE 100 global investment management company, will provide Benchmark Capital with access to new markets and further
enhance our proposition. We will continue to improve our technology suite bringing these benefits to our UK clients. As a core owner, I am excited about our future growth.”

Robin Stoakley, Director of Intermediary at Schroders, said:

“Benchmark Capital’s affluent and mass affluent expertise is complementary to Schroders’ investment management and high net worth client management expertise. This combination will enable us to develop a better understanding of investor behaviours across the retail client spectrum, which will ultimately lead to better client outcomes. This partnership also allows us to offer existing clients the services of a high-quality adviser support business.”

Financial terms of the transaction were not disclosed and it is expected to complete in the first quarter of 2017.

Notes to Editors

For media related enquiries

Schroders

Beth Saint, Head of Communications Tel: +44 (0)20 7658 6168/ beth.saint@schroders.com

Charlotte Banks, UK PR Manager: +44 (0)20 7658 2589 / charlotte.banks@schroders.com 

Estelle Bibby, Senior UK PR Manager: +44 (0)20 7658 3431 / estelle.bibby@schroders.com

Schroders

Schroders is a global asset management company with £375.0 billion (€433.5 billion/US$487.1 billion) assets under management as at 30 September 2016. Our clients are major financial institutions including pension funds, banks and insurance companies, local and public authorities, governments, charities, high net worth individuals and retail investors. With one of the largest networks of offices of any dedicated asset management company, we operate from 37 offices in 27 countries across Europe, the Americas, Asia, Middle East and Africa. Schroders has developed under stable ownership for over 200 years and long-term thinking governs our approach to investing, building client relationships and growing our business. Further information about Schroders can be found at www.schroders.com.

Benchmark Capital

Benchmark Capital is an award-winning, technology-led, high-quality adviser support business consisting of a technology company, an institutional funds platform, and both a chartered firm and network of independent financial advisers. It also has a small restricted advice business. Specifically:

  • Creative Technologies – a company that provides technology solutions for mid to large wealth managers and national firms.
  • Fusion Wealth – a full services and whole of market institutional platform which also provides discretionary fund management.
  • Aspect 8 – a company of independent chartered financial planners
  • Best Practice – a network that provides compliance, regulatory support, and technology services to a range of chartered firms.
  • Evolution Wealth – a small network and chartered financial planning firm. Further information about Benchmark Capital can be found at http://www.benchmarkcapital.co.uk.

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