Preservation Capital Partners buys wealth management firm Saltus Group

PCP’s investment will look to accelerate Saltus’ current growth trajectory.

  • PCP will hold a majority stake, alongside Saltus’ management and long term shareholders
  • The Saltus Group has assets under management of £2.3 billion and expects that to rise to £4 billion by the end of 2022
  • PCP’s investment will grant Saltus greater access to capital and will look to facilitate further investment in technology development to improve the client experience

Preservation Capital Partners (PCP), the London-based private equity firm announced on 1 August 2022 it has bought London-headquartered wealth management firm Saltus Group. Saltus is a wealth management company that started life as an investment management firm in 2004. The Saltus Group employs over 120 people and manages £2.3 billion ($2.78 billion; €2.72 billion) in assets. It expects to reach £4 billion in assets under management by the end of the year.

PCP is a private equity firm that specialises in investing in the high-growth financial technology and services sector. PCP manages approximately £830 million.

“The central principle of our investment approach is to back outstanding management teams that have demonstrated an ability to outperform the market,” said Andrea Secci, managing director at PCP. “Saltus has industry-leading double-digit organic growth rates, incredibly high retention and a unique vertically integrated business model. We are delighted to be supporting the firm to supercharge growth.”

PCP becomes the majority shareholder, alongside Saltus’ management and an existing base of long-term high-net-worth individual shareholders.

The investment will look to accelerate Saltus’ current growth trajectory via greater access to capital, facilitating further investment in technology development to enhance the experience of Saltus’ clients and advisers while broadening the reach of the Saltus Partnerships Programme (SPP). SPP is a new initiative which brings together Saltus’ technological capabilities with its platform and investment offerings to create a package for advisers.

“We have grown significantly over the past few years – both organically and through the acquisitions we have made – and as a result are seeing increasing demand from high-net-worth clients for our goal-focussed financial planning and wealth management services,” said Jon Macintosh, managing partner at Saltus. “The next step in our evolution is to create an offering to support the UK’s most sophisticated and high-end financial advisers so that they can grow their business faster, maximise value, and focus on doing the bits of their job they love the most – looking after clients and winning new ones.

“We believe PCP’s insight, experience and capital will significantly enhance our ability to expand the Saltus business and cement our position as the leading HNW wealth manager in the UK.”