Skandia says it is not just looking to acquire stakes in restricted firms and is in discussions with a number of IFAs about taking a small stake.
Managing director of UK Peter Mann says IFA firms would not need to class themselves as restricted just because the provider owned a small stake.
Mann says: “Firms we could look to take a stake in would not necessarily have to be restricted. Some of the businesses we have spoken to already are not currently restricted.
“If we get the chance we will take small stakes in firms of between five and 10 per cent. That is as much as we are prepared to take.
“We do not want to own adviser businesses or have any influence.
“There are some businesses that have the ability to grow but are constrained by capital and if there is anything we can do to help without exerting undue influence then it is part of the business plan to do that.”
Mann declined to reveal the exact number of firms Skandia is in discussions with, but says the current number is fewer than 10.
In October, Money Marketing revealed Skandia was in talks with Keith Carby’s restricted venture Caerus Capital Group over taking a stake in the firm. Mann declined to comment on any potential deal.
Forty Two Wealth Management partner Alan Dick says: “I do not think this would have to affect a firm’s independence.
“It would clearly add a conflict of interest but every firm has conflicts of interest, the issue is whether they are identified and systems are put in place to manage them.”