The UK arm of DeVere Group has entered into a strategic partnership with Fidelius Group, the independent chartered financial planning firm.
Under the agreement, Fidelius DeVere will offer planning solutions required to meet the individual needs of returning expat clients.
The operation will have its headquarters in Bath and other offices located in Bridgewater, Cheltenham, Chelmsford, London and Mansfield.
DeVere United Kingdom has applied to surrender its permissions as the venture falls under the regulatory framework of Fidelius. This is due to complete by 1 May.
As well as the strategic partnership with Fidelius, there are plans to further strengthen DeVere Group’s presence in the UK through the wholly owned subsidiary, WPS Advisory, which focuses on retirement planning advice via the workplace.
DeVere has an existing relationship with Fidelius through its parent group Pacific Asset Management (PAM).
‘Considerable benefits’
Nigel Green, chief executive of the deVere Group, said: “Given the necessity to meet evolving global regulatory requirements, the Brexit-fuelled changes, and shifting market conditions and client expectations, I’m delighted to confirm our further commitment to the UK through this joint venture with the Fidelius Group.
“It allows us to strengthen our position as the most regulatory robust international financial advisory organisation in the world.”
Duncan McKillop, head of commercial at Fidelius Group, added: “We’re thrilled by this partnership with a company that shares our core client-centric values.
“The agreement will deliver considerable benefits to clients in terms of service and solutions, including financial planning and mortgages, and it will add value for advisers.
“This is part of a wider ongoing relationship with DeVere, which we hope to expand on further by developing propositions for DeVere’s returning expat clients.”
