Fidelius announces growth plans after Söderberg & Partners takes

minority stake

Fidelius, the Bath-headquartered advisory firm, today announces its growth plans as the FCA approves an investment from Söderberg & Partners.

The FCA has given approval for an investment in the Fidelius from Swedish wealth manager Söderberg & Partners. In January it was announced Söderberg & Partners would buy a significant minority stake in Fidelius for an undisclosed sum as part of its drive to increase its footprint in the UK advice space.

Fidelius has ambitious growth plans, aiming to double the size of its business within the next five years. It will do this through:

• IFA acquisition

Unlike many of the consolidators in the marketplace, Fidelius wants to partner with IFAs who are looking for the resources and support to facilitate their future growth.

• A partnership model for individual advisers

This will give individuals the chance to work at a modern chartered financial planning firm with the opportunity to increase their earnings potential allied with a capital event in the future.

• Technology to support client service

Fidelius’ relationship with Söderberg & Partners will allow it to harness its knowledge and expertise in leading technology solutions to benefit the firm and its clients.

• Building relationships with the wider professional community

Clients are demanding a wider proposition which includes the expertise of accountants, solicitors and financial planning firms. Given its previous experience working with other professionals, Fidelius is well placed to complement their services.

Leadership changes

As the firm prepares for its next phase of growth, its chief executive officer, Jim Grant, is stepping down after 12 years in the role. He becomes executive chairman, handing his responsibilities for the day-to-day running of the business to chief operating officer Ian Fowler.

Grant will continue his involvement with oversight of leadership and governance within the firm, and will be responsible for communications with shareholders.

Meanwhile, chairman Mike Bennett and non-executive director Graham Miller are stepping down from the Fidelius board.

Jim Grant, chairman of Fidelius, commented: “I am delighted that the FCA has now approved our application and, with Söderberg's support and expertise, we can now put in place the exciting plans we have devised to deliver our next stage of growth.

“I would like to congratulate Ian Fowler on his progression to the role of CEO. He has the skill, drive and determination to lead Fidelius on the next stage of our journey. Ian’s focus will be on ensuring we have a clear vision and strategy for growth. I also thank Mark Bennett and Graham Miller for their sage advice and contribution to Fidelius over the last few years.”

Gustaf Rentzhog, Chief Executive Officer at Söderberg & Partners, added: “Fidelius is a business with significant upside potential. 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.”