Wealth manager Söderberg & Partners has continued its expansion into the UK financials space, through taking a minority take in the Bath-based advisory firm Fidelius.
Subject to FCA approval, the acquisition is the Swedish firm’s seventh investment in the UK market and while the deal was for an undisclosed sum it has been described as one of its biggest to date.
Fidelius, which was launched in 1998 and has offices across Bath, Cheltenham, Chelmsford, London and Mansfield, offers advisory services, including wealth management, employee benefits, mortgages and a specialism in advice to returning expats.
See also: Söderberg & Partners makes further IFA purchases
“Fidelius is a business with significant upside potential,” said Gustaf Rentzhog, chief executive officer at Söderberg & Partners. “With a strong brand and an exceptionally experienced management team, I have no doubt that this already successful and growth-oriented business will go from strength to strength.”
Jim Grant, CEO of Fidelius, said: “It can be hard for financial planning firms to raise quality investment to allow for growth, but with Söderberg we can help make this a reality.”
He added: “With a strong brand and an exceptionally experienced management team, I have no doubt that this already successful and growth-oriented business will go from strength to strength.”
