Fidelius Group completes strategic partnership with deVere UK
Fidelius Group, the independent chartered financial planning firm, completed a strategic partnership with deVere UK on Friday 30 April 2021.
The enhanced business will specialise in providing advice and solutions to returning ex-pat clients.
This strategic partnership will bring AUM of GBP280 million to Fidelius bringing assets under advice to circa GBP1.7 billion. It will also bring a high-quality mortgage business which Fidelius will look to develop substantially over the coming years.
As part of the deal, 28 staff will join Fidelius from deVere’s Mansfield office, which will become part of Fidelius Group, adding to its existing offices in Bath, Chelmsford, Bridgewater, Cheltenham and London.
The scale of Fidelius’ business and expertise in the UK market means that staff and clients will benefit from its robust regulatory infrastructure, insourced investment proposition powered by Pacific Asset Management and Fidelius’ own “Advance” client platform.
Strategically, with the new office in Mansfield, Fidelius will now be able to add additional support to its Azets Financial Planning business, in particular in the Midlands. Azets Financial Planning is run in partnership with accountancy and business advisory firm, Azets. Azets has offices around the UK, with Fidelius supporting 64 of them.
The advisers on the deal were: Natwest’s Bristol team, DC Advisory and Royds Withy King.
Commenting on the acquisition, Jim Grant, CEO, Fidelius Group, says: “We are very pleased to welcome the deVere staff to Fidelius and we look forward to working closely with them to build on the great work that deVere have done in looking after the needs of their returning ex-pat clients. Fidelius has a long-standing relationship with deVere and this arrangement was a natural fit for our businesses.
“We are continually looking at new opportunities for growth, including acquisition, high level recruitments, establishing professional service JV’s and opportunities to add significant expertise and value to the company.”