British fund manager Schroders has agreed to buy a stake in British advice business Benchmark Capital for an undisclosed sum.

Schroders group CEO Peter Harrison will join Benchmark as chairman, while Schroders intermediary director Robin Stoakley and global head of wealth Andrew Ross will become non-executive directors at Benchmark as part of the deal.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Benchmark Capital CEO Ian Cooke will retain core ownership in the company following the stake purchase by Schroders, while its current executive team will continue to run the business.

Schroders director of Intermediary Robin Stoakley: “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.”

The deal is expected to be wrapped up in the first quarter of 2017, subject to regulatory nod.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Benchmark Capital includes network Best Practice, chartered financial planning firm Aspect 8, technology firm Creative Technologies, platform Fusion Wealth, and chartered financial planning firm TEvolution Wealth.