Skandia is in talks with Keith Carby’s venture Caerus Capital Group about acquiring part of the firm, Money Marketing understands.
Caerus is understood to be holding talks with a number of providers about taking stakes in the firm with senior management intending to retain a majority holding.
A Skandia spokesman says: “We are in discussions with distribution businesses but we will not comment on anything until it is finalised.”
Caerus chief executive Carby (pictured) says: “We have had several approaches from different institutions about one type of arrangement or another.”
In its half-yearly results published in August, Skandia parent Old Mutual Wealth revealed it was developing a low cost fund range targeted at restricted advisers.
Old Mutual said it was in discussions with a number of “high quality asset managers” to develop a new fund range for the post-RDR market.
On Monday, Caerus announced it had acquired Paradigm’s network arm Paradigm Financial Advisers. The deal sees Caerus’ 185 restricted advisers operate alongside PFA’s independent intermediaries.