Main Swedish wealth supervisor Söderberg & Companions has taken a “important” minority stake in increasing Tub-based Chartered Monetary Planner Fidelius because it continues its UK enlargement drive.
Söderberg says the deal is one its largest investments within the UK and its seventh stake-building deal within the UK Monetary Planning and wealth administration sectors.
The price of the stake has not been disclosed and the funding is topic to FCA approval.
Fidelius Group has £1.75bn below recommendation and 158 staff primarily based at its workplaces in Tub, Chelmsford, Cheltenham, Mansfield and London. Fidelius has itself been on the enlargement path lately.
In 2020 it acquired two Monetary Planning companies from Pacific Asset Administration (PAM) in a swap deal. PAM’s Monetary Planning companies Chartered Monetary Administration and Zen Wealth LLP grew to become a part of the Fidelius Group.
In November 2022 Fidelius Group moved into new headquarters at a landmark workplace constructing at No 1, Tub Quays, Tub.
In 2021 Worldwide wealth supervisor deVere Group arrange a “strategic partnership” with Fidelius to serve expats returning to the UK. A brand new model known as Fidelius deVere was launched to supply bespoke Monetary Planning to returning expat purchasers.
Fidelius has workplaces in Tub, Cheltenham, Chelmsford, London and Mansfield and presents wealth administration, worker advantages, mortgages, in addition to a specialism in recommendation to returning expats. It was launched in 1998 and has grown via natural and M&A enlargement.
Söderberg, one of many Nordic area’s largest wealth managers, has quickly been increase its UK presence. Just lately Söderberg & Companions introduced it had bought stakes in London wealth supervisor Classic and Croydon-based PK Monetary. Final 12 months the Swedish monetary adviser took a majority stake in Timothy James & Companions and minority stakes in Cambridge-based Dartington Wealth Administration, Technology and Atherton York in North London.
The Swedish agency entered the UK adviser market in 2023 and mentioned it goals to associate with as much as 1,000 monetary advisers within the UK inside 5 years. Söderberg & Companions was based in Sweden 2004 and has greater than 4,000 staff in 110 workplaces in Sweden, Norway, Denmark, Finland, the Netherlands, Luxembourg and Spain, and greater than £60bn in property below administration and recommendation.
Jim Grant, CEO of Fidelius mentioned: “In Sӧderberg & Companions we’ve got discovered a associate who sees the world the identical means we do. I’m very excited to have Sӧderberg working alongside us to help Fidelius in investing into smaller entrepreneurial companies who require the proper help and useful resource so as to realise their true development potential.
“It may be onerous for Monetary Planning companies to boost high quality funding to permit for development, however with Sӧderberg we may also help make this a actuality. We sit up for speaking to companies, groups or people who want a bridge to permit them to construct a enterprise targeted on development and future worth.
“The entire group at Fidelius is extremely excited concerning the subsequent section of our journey and we’re delighted to have discovered Sӧderberg & Companions to work with shifting ahead.”
Gustaf Rentzhog, CEO at Söderberg & Companions, mentioned: “Fidelius is a enterprise with important upside potential. With a robust model and an exceptionally skilled administration group, I’ve little doubt that this already profitable and growth-oriented enterprise will go from energy to energy.”
