Inflation has remained relatively high, meaning goods are becoming more expensive, particularly the cost of food, official figures show.
The private equity giant Bain Capital is among the suitors circling Amber River, one of Britain’s biggest independent financial planning networks.
Sky News has learnt that Bain, a former owner of motor insurer esure, and several other private equity firms are preparing to lodge bids for Amber River, which has been put up for sale by owner Penta Capital.
Banking sources said the auction could fetch a price in the region of £900m.
Money latest: Did Oasis tour impact inflation?
The insiders named Stone Point Capital, a financial services-focused buyout firm, as another potential bidder ahead of offers due in the coming weeks.
Amber River is headed by Mary-Anne McIntyre, former chief executive of financial adviser network OpenWork.
It has roughly £14bn of assets under advice, and has been built through a string of acquisitions since it was founded in 2019 under the name Socium Group.
Trump state visit is all about deals to turn around UK economy
Trump finally gets his demand for a US rate cut
Meta announces new smart glasses with a bold claim. I've tried them - and am unconvinced
Last year, it struck a £275m debt refinancing deal with Carlyle, the US-based investment giant.
The auction is being handled by bankers at Rothschild.
Be the first to get Breaking News
Install the Sky News app for free
Consolidation has been sweeping the UK's financial advice sector, with the City watchdog cautioning firms to seek approval prior to signing deals amid a review of the industry.
Bain Capital declined to comment on Wednesday.
