Fidelius, Bath-based IFA firm, on 1 May announced its investment into Vobis Ltd, a financial planning business specialising in high-net-worth clients.
Fidelius will acquire a non-controlling holding in Vobis Ltd and will support the growth ambitions of Vobis through a long-lasting partnership improving both productivity and technological efficiency.
With over £140m in assets under management, Vobis has a top 60 accountancy practice joint venture in Central London who provide client referrals and a diversified client base.
Fidelius and Vobis plan to further strengthen and expand this partnership and with Vobis’s strong presence in London with many of its clients based in the capital, the partnership between Fidelius and Vobis marks a significant step for Bath headquartered Fidelius into the London market.
CEO, Richard Stott who has led Vobis since 2019 will continue in his role as CEO to grow the business post completion. “Vobis is ready to expand, and we recognised that the business would benefit greatly from a partner like Fidelius to invest in our capabilities and infrastructure and help us move to the next phase of growth. We very much see the partnership with Fidelius providing Vobis the platform to enhance our service proposition and provide the economies of scale for us to realise our growth ambitions. Fidelius recognised the qualities of our firm and team and it became clear that we are aligned culturally in putting clients at the heart of our business.”
Duncan McKillop, director of corporate growth at Fidelius, stated: “We are pleased to partner with Richard, and the team at Vobis. They are a dynamic business with ambitious goals to grow and enhance their client offering. Vobis exemplifies the type of IFA business we aim to collaborate with through our ‘Home for Growth’ model. Combining our resources with their drive and capability, we look forward to a promising future.”
Ian Fowler, chief executive officer at Fidelius, said: “We see incredible potential in Vobis and we are delighted to have been able to partner with such a strong business. Vobis delivers outstanding customer service to both its London and Leeds based high net worth client base, and we see the opportunity for significant growth in this space with the right support and investment. The Leeds office also provides us with a valuable base on which to continue to build our national coverage, especially along the M62 corridor. The directors of Fidelius look forward to seeing Vobis realise its full potential in the years to come.”
With offices across Bath, Cheltenham, Chelmsford, London and Nottingham, Fidelius offers a suite of advisory services including wealth management, employee benefits, corporate wealth, mortgages and financial relocation support. Launched in 1998, Fidelius has grown significantly through both organic and M&A expansion and has recently announced a significant rebrand.
The investment in Vobis is the first Fidelius has made with the cash injection it received from Swedish wealth manager Sӧderberg & Partners, which took a minority stake in the business at the start of 2024.
Fidelius had previously said that acquiring IFAs is a key component of its growth strategy, aiming to double its assets under management by 2029 and expand into a top 20 IFA by size.
