It is the first of several tech partnerships focused on delivering speed and connectivity.

Stockholm-headquartered Söderberg & Partners, a provider of wealth management and corporate insurance services, has launched a new advisor platform in the UK, with technology provider Seccl.

The platform, which will only be available to UK clients that the firm has bought a stake in, is subject to approval from the UK’s Financial Conduct Authority. Powered by Seccl and additional providers, it is the first of several tech partnerships that Söderberg & Partners has planned to support increased business efficiencies for financial advisors. The launch, along with the planned introduction of in-house technology, is the first step towards offering an end-to-end advice solution, the Nordic wealth manager said in a statement.

The new platform will provide functionality including instant deposits so that investments reach the market faster, contracted settlement for faster switches and cash management with no minimum cash balance required. It also includes a multi-model approach so that advisors can hold various investment strategies in one wrapper, tiered advisor charging with full flexibility on fees, family linking pricing, paperless user journeys with no signatures and a transfers workbench for transparent transfers and progress updates.

In addition, there are a number of additional functionality releases planned for 2024 to bring new services to market and support advisor business efficiencies, the firm said.

Söderberg & Partners said it selected Seccl for its speed to market and ease of connectivity. Seccl is an investment platform owned by Octopus. It offers low cost, efficient, and API-first technology infrastructure with the aim of supporting firms in a changing financial services industry. Its technology also powers a range of advisory businesses along with other financial services brands: GoHenry, Crowdcube and Penfold.

“We want to reduce the administrative burden on advice firms so they can concentrate on helping their clients and save money,” Nick Raine, CEO of Söderberg & Partners’ UK business, said. “With this launch, we are looking to our Nordic roots for inspiration, and to learn lessons about how we can improve advisor-to-administrator ratios to make advice more efficient. Our overall aim is to reduce the cost of advice and support advisors to deliver better service to end clients.” 

Söderberg & Partners, which was founded in Sweden in 2004, has offices in Sweden, Norway, Denmark, Finland, the Netherlands, Luxembourg and Spain. The latest move forms part of the firm's expansion into the UK and Spain.