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Schroders increases stake in Benchmark Capital

Schroders is now the ultimate controlling party in advice business Benchmark Capital after increasing its stake in the firm in May.

According to Benchmark Capital accounts filed to Companies House, Schroders increased its equity stake in the business to 77 per cent on 25 May.

Schroders previously held a 65 per cent stake in the business, which owns advice firm Aspect 8, network Best Practice, network and financial planning firm Evolution Wealth, and platform Fusion Wealth.

Schroders first took a stake in Benchmark Capital in 2016.

The accounts say that at the end of the reporting period, which was 31 December 2017, Benchmark Capital chief executive Ian Cooke was the ultimate controlling party through his shareholding in the business through a company called Family Capital Limited.

The accounts cover a 17-month period, during which the company reported pre-tax profit of £8.4m. In the 12 months to July 2016, the previous reporting period, pre-tax profit was £4.8m.

In its half-year results in July, Schroders reported that Benchmark Capital contributed £700m to the £1.2bn net inflows.

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