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June 4, 2020

Schroders-owned Benchmark picks controlling stake in financial planner TRPP

Adviser solutions provider Benchmark Capital, owned by the Schroders Group, has taken a majority interest in TRPP Wealth Management (Retirement Planning Partnership) – a UK-based financial planner.

Financial terms of the deal were not revealed.

The deal builds on the two parties’ existing relationship, which started many years back.

TRPP director Mike Caffyn said: “We see this investment as the next phase in our plans to deliver high quality retirement and holistic financial planning in the areas we cover.”

Schroders became the owner of Benchmark in 2018 after increasing its shareholding in the firm.

The fund manager believes that the TRPP deal will be mutually beneficial.

For TRPP, it is said to lend scale and financial security to support the expansion of its core services, including investment and retirement planning with a focus on pensions advice.

On the other hand, TRPP’s presence in Hampshire and Dorset is said to facilitate Benchmark’s expansion in the South of England and complement its existing Winchester office.

TRPP employees will be retained. Moreover, there will be no changes to its clients.

Benchmark group managing director David White called TRPP a “strong cultural fit”.

“It’s testament to the strength, stability and financial security of Benchmark Capital that we can continue to invest in the highest quality firms in the current uncertain environment,” White noted.

Meanwhile, last year, Schroders acquired a majority stake in Swiss impact investment management firm BlueOrchard.

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