Open an account Help & support Register Account summary Log out
Skip Header
Home Stock market news

Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Openwork Partnership joins suitors for Schroders' Benchmark - report

Fri 05 Jun 2026 10:30

(Sharecast News) - The Openwork Partnership has reportedly joined a pack of suitors circling Schroders' financial planning unit, Benchmark. According to Sky News, the financial advice network - which is backed by buyout firm Bain Capital - is one of three shortlisted bidders for Benchmark, which is expected to command a price tag of up to £250m.

Soderberg, which is part-owned by KKR, and Advent International are thought to be the other remaining contenders for a deal, Sky said.

The sale process, which is being run by Perella Weinberg Partners, comes as Schroders prepares to be absorbed into Nuveen, the American asset management group.

Benchmark, which was established in 1993 under the name Ian Cooke & Partners, now has more than £26bn in assets under administration across its operations and employs hundreds of people. As well as financial planning, it provides technology and compliance services to other financial advisers.

Schroders, which initially took a stake in Benchmark in 2016, took full control of the business two years later.

Sky said a string of other private equity firms also examined offers for the business.

Share this article

Related Sharecast Articles

Fri 17 Jul 2026 12:40
ConocoPhillips to buy 42% stake in BP Iraq oil fields
(Sharecast News) - BP said on Friday that it has agreed terms for ConocoPhillips to buy a 42% interest in BP Energy Company of Kirkuk (BP ECKL).
Fri 17 Jul 2026 11:29
GSK shares fall as cough drug development axed
(Sharecast News) - Shares in GSK fell sharply on Friday after the pharma titan announced it was stopping the development of a refractory chronic cough drug after unsuccessful results late-stage clinical trial.
Fri 17 Jul 2026 11:26
Deutsche Bank downgrades Rotork after ABB takeover
(Sharecast News) - Deutsche Bank downgraded Rotork on Friday to 'hold' from 'buy' and lifted the price target to 503p from 400p after it agreed to be bought by Swiss engineering firm ABB in a £4.1bn deal.
Fri 17 Jul 2026 09:30
Wise Q1 revenues rise as customer numbers grow
(Sharecast News) - Wise reported an increase in first-quarter revenue on Friday as customer numbers at the money transfer firm rose.

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

Policies and important information
 

Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Diversity, Equity & Inclusion Reports | Doing Business with Fidelity | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing programme

 

Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document or Product Summary document which contains important information about the fund.

This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.

© FIL Limited 2026