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Skandia in talks to buy stake in Caerus
by Jun Merrett on Oct 22, 2012 at 07:52
Skandia is in talks to buy a stake in adviser group Caerus Capital, New Model Adviser® understands.
It is understood the two companies are in discussions over Skandia acquiring a stake in Caerus but it will not become a majority shareholder.
Keith Carby, chief executive of Caerus Capital (pictured), would not comment on the specific deal but said: 'We have been approached by a number of institutions, including providers, fund managers and platforms.'
A Skandia spokesman said: 'We are in discussions with a number of distribution businesses but we will not comment on any particular business until it has been finalised.'
Last week Caerus announced it was acquiring the Paradigm network, Paradigm Financial Advisers. Advisers in the Caerus network were formerly appointed representatives of the Paradigm network.
This is not the first time Skandia has bought a stake in an advisory business. In 2005, Paul Hogarth, chief executive of Paradigm sold his stake in support services provider Bankhall to Skandia when he left his role as chief executive of the company.
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