Swedish wealth manager Söderberg & Partners is set to enter the UK market by setting up a financial advice and investment management business in the country.

The firm will carry out its operations in the UK under the sub brand Söderberg & Partners Wealth Management.

It plans to collaborate with 500 to 1,000 financial advisers in the UK in the next five years and will offer its solutions through partnerships across the country.

Soderberg & Partners group CEO Gustaf Rentzhog said: “There is strong and growing demand in the United Kingdom for high-quality financial advice.

“Söderberg & Partners has a track record of enabling advisers and their clients to plan and invest for better financial futures.

“Advisers and their clients want a responsible, long-term partner in the UK. It is our goal to become their first choice.”

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The company has already appointed former CEO of Novia Bill Vasilieff and ex-COO of Novia Nick Raine as the chair and CEO, respectively, of its UK business.

Vasilieff said: “The new project that lured me out of retirement.

“When Gustaf approached me and explained the depth of the proposition, I immediately saw it as truly innovative and unique in the UK adviser market. I am very excited to be involved in the launch into the UK.”

Founded in 2004, Söderberg & Partners currently has a workforce of around 3,000 people across seven countries. The firm is said to oversee over £60bn in clients’ assets.

The latest development comes after Söderberg & Partners announced an investment in Din Forsikringmægler and Din Pensionsmægler to expand its pension and insurance brokerage business.