Fidelity Worldwide Investment has acquired the entire share capital of Annuity Direct and its holding company Retirement Angels for an undisclosed sum.
Annuity Direct and Fidelity Worldwide Investment have joined forces with the goal of delivering retirement outcomes to Fidelity’s customers and support needed to grow its business.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The deal will not only provide customers of Fidelity with greater options and support at retirement, but also targets to broaden Annuity Direct’s services to a range of intermediaries and trustee clients.
Following its acquisition, Annuity Direct will retain its status as an independent financial advisor to individuals, pensions and institutions.
The deal is subject to approval by the Financial Conduct Authority (FCA) in the UK.
Apart from providing support for Fidelity’s business channels, Annuity Direct will continue to serve individuals, pension schemes and other institutions under the Annuity Direct brand as an independent financial adviser.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataAlan Higham will remain as chairman of the company and will join Fidelity to help grow its business.
Richard Parkin, head of retirement, Fidelity Worldwide Investment, said: "Fidelity and Annuity Direct have a common goal to provide customers with the very best retirement outcome by focusing on what is right for them not just what is good for our businesses."
Hugh Mullan, UK managing director, Fidelity, said: "Our customers will benefit from a much richer retirement offering, and Annuity Direct will be given investment to further grow its business and continue to support the best retirement choices in a market that is growing rapidly with ever increasing customer needs."
Fidelity and Annuity Direct have already worked together on Fidelity’s highly successful ‘RetireWise’ service, which is used by Fidelity’s pension clients to obtain a retirement product that meets their needs.
