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Fidelius and deVere launch joint UK planning venture

 

International wealth manager deVere Group has set up a “strategic partnership” with UK Financial Planner Fidelius Group to serve expats returning to the UK.

A new brand called Fidelius deVere will be launched to provide bespoke Financial Planning to returning expat clients. 

As part of the deal, deVere UK has applied to surrender its UK permissions as the venture will be run under the regulatory framework of Fidelius. The new venture is due to launch on 1 May. 

The deVere UK Mansfield office will remain unchanged but will work with the Fidelius network of UK offices to run a total of six UK offices. These are located in Bath (headquarters), Bridgewater, Cheltenham, Chelmsford, London and Mansfield. 

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deVere, which advises on over £7.2bn of funds around the world, has an existing relationship with Fidelius, of which Pacific Asset Management (PAM) is a shareholder. PAM also works alongside dVAM, deVere’s product advisory and consultancy business, on a range of investment solutions. 

As well as the strategic partnership with Fidelius, deVere has plans to boost its presence in the UK through wholly-owned subsidiary, WPS Advisory Limited which provides retirement planning advice via the workplace.

deVere Group CEO Nigel Green 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.”

He adds: “Our unrivalled experience and understanding of the needs of returning international clients to the UK, alongside the 150 plus individuals and UK centric-infrastructure at Fidelius, gives deVere a truly unique proposition for our global client base.”  

deVere Group chairman Peter Hobbs said: “Fidelius is a highly respected, countrywide organisation and is a well-known and trusted partner of deVere Group. We’re confident that their size, scope and infrastructure capabilities will further enhance the service levels and the Financial Planning propositions for clients who return to the UK from overseas.” 

Duncan McKillop, head of commercial at Fidelius Group, said: “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.”


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