Skandia is in talks with Keith Carby’s venture Caerus Capital Group about acquiring part of the firm, Fundweb.co.uk sister title Money Marketing understands.
Caerus is understood to be holding talks with a number of providers about taking stakes in the firm with senior management intending to retain a majority holding.
A Skandia spokesman says: “We are in discussions with distribution businesses but we will not comment on anything until it is finalised.”
Caerus chief executive Carby (pictured) says: “We have had several approaches from different institutions about one type of arrangement or another.”
In its half-yearly results published in August, Skandia parent Old Mutual Wealth revealed it was developing a low cost fund range targeted at restricted advisers.
Old Mutual said it was in discussions with a number of “high quality asset managers” to develop a new fund range for the post-RDR market.
Earlier this week, Caerus announced it had acquired Paradigm’s network arm Paradigm Financial Advisers. The deal sees Caerus’ 185 restricted advisers operate alongside PFA’s independent intermediaries.