June 11, 2020

RWK Goodman advises Fidelius on simultaneous M&A transactions

The transaction sees PAM, which has grown it’s AUM to circa £1.2bn in four years, acquire Fidelius’ discretionary fund management arm, Parallel Investment Management. In turn, PAM’s financial planning firms, Chartered Financial Management (UK) Ltd and Zen Wealth LLP, will both become part of the Fidelius Group. Chartered Financial Management (UK) Ltd advise on £250m of clients’ assets and Zen Wealth has assets under advice of £30m.

Jim Grant, CEO of Fidelius Group, commented, “We are very excited to welcome Chartered Financial Management (UK) Ltd and Zen Wealth to the Fidelius family. The partnership with PAM will bring significant cost benefits to clients, strengthen our investment offering and add value to our advisers”.

Fidelius were advised by Katharine Mortimer, James Worrall and Janetta Barrett from RWK Goodman’s South West Corporate team.

James Worrall commented: “It was a pleasure to work with the Fidelius team on another complex deal with a simultaneous acquisition and disposal by Fidelius. It marks another transaction advised on by RWK Goodman’s Financial Services sector team which continues to grow, supporting financial services businesses including asset management firms, IFAs and international banks deliver their growth strategies”.

Katharine Mortimer added: “It is great to see a successful transaction over line during these challenging times. It serves as a timely reminder that there are non-distressed deals to be done as businesses begin to look to the future and the opportunities available in a post-Covid 19 world.”

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