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Pacific Asset Management and Fidelius Group enter strategic partnership

Thursday, June 11, 2020

Pacific Asset Management and Fidelius Group announce major strategic partnership
Read the full press release below

Pacific Asset Management (PAM), the core asset management business of Sir John Beckwith’s Pacific Investments Group, and Fidelius Group, the independent Chartered Financial Planning firm, announce they have entered into a strategic partnership. The deal represents the largest undertaken by Pacific Asset Management to-date. Fidelius Group, headquartered in Bath, advises on £1.5bn of assets.

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Under the terms of the agreement, PAM, which has grown it’s AUM to circa £1.2bn in four years, will acquire Fidelius’ DFM arm, Parallel Investment Management (PIM), and assume responsibility for its range of risk-targeted model portfolios.

In turn PAM’s financial planning firms, Chartered Financial Management (UK) Ltd and Zen Wealth LLP, which PAM acquired in July 2018 and 2019 respectively, will both become part of the Fidelius Group, which has offices in Cheltenham and Chelmsford in addition to its Bath headquarters. Chartered Financial Management (UK) Ltd advise on £250m of clients’ assets and Zen Wealth has assets under advice of £30m.

Matthew Lamb, CEO of Pacific Asset Management said, “We are delighted that the Fidelius Group has decided to partner with PAM. The combination of PAM’s investment management capabilities with the strength and breadth of Fidelius Group’s chartered financial planning expertise makes for a strong long-term partnership and great cultural fit, not only for our group, but for our advisers and all our clients.

Lamb continued, “In simple terms, this partnership allows all of us to focus on our core strengths and gives employees and importantly our clients, the breadth of opportunities to maximise their potential for continued long term success.

Jim Grant, CEO of Fidelius Group, commented, “We are very excited to welcome Chartered Financial Management (UK) Ltd and Zen Wealth to the Fidelius family. Both are high quality, profitable businesses which have long shared our ‘client first’ ethos. The partnership with PAM will bring significant cost benefits to clients, strengthen our investment offering and add value to our advisers.

I believe we have created a business model, in conjunction with PAM, which will be attractive to advice firms that share the same core beliefs as us, that is; providing a complete financial planning service to clients, as well as retaining and building value for the future.

Russell Butts and Jon Marshfield, Directors at Chartered Financial Management (UK) Ltd commented, “We have known Jim and the Fidelius Group for many years and we are hugely excited about joining the team. Fidelius has a wealth of experience but, importantly to us, they have broader and deeper resources which will enable us to focus on what we do best, looking after our clients interests. We share a strong culture and values, centred around clients and with the enhanced support the larger Group brings we are strongly positioned to maintain the high quality service we strive to provide in the years ahead.

IMPORTANT INFORMATION | Issued and approved by Pacific Capital Partners Limited, a limited company registered in England and Wales, authorised and regulated by the Financial Conduct Authority. The information contained herein is not approved for use by the public and is only intended for recipients who would be generally classified as investment professionals. Information or opinions contained in this article do not constitute an offer to sell or a solicitation, or offer to buy, any securities or financial instruments or investment advice or any advice or recommendation in respect of such securities or other financial instruments. Where past performance is shown it refers to the past and should not be seen as an indication of future performance.

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