Hg, TowerBrook, and Vitruvian Partners are among private equity firms that have submitted initial bids for Benchmark, the financial planning arm of Schroders, in a deal that could reach up to $270m, Sky News reported.

Aquiline Capital Partners is also among the interested bidders, reflecting strong competition for scaled wealth and advisory platforms amid growing demand for recurring revenue financial services businesses.

The sale is being overseen by Perella Weinberg Partners and comes at a pivotal moment for Schroders, which is preparing to be acquired by Nuveen in a near-£10bn transaction that will reshape its portfolio.

Benchmark manages more than £26bn in assets and operates a diversified model, combining financial planning with technology and compliance services for advisers, positioning it as an integrated platform within the UK wealth ecosystem.

The asset offers exposure to structural growth trends in wealth management, including increased demand for financial advice, regulatory complexity, and the digitisation of advisory services.

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