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June 12, 2020

Pacific Asset Management signs deal to acquire Fidelius’ DFM arm

Pacific Asset Management (PAM) has entered into a strategic partnership to acquire Fidelius Group’s DFM arm.

Under the terms of the agreement, PAM will also acquire Fidelius’s subsidiary Parallel Investment Management and take over the responsibility for its risk-targeted model portfolios.

On the other hand, PAM’s financial planning firms Chartered Financial Management (UK) and Zen Wealth will join Fidelius Group.

PAM acquired these two financial firms in July 2018 and 2019 respectively.

Pacific Asset Management CEO Matthew Lamb: “We are delighted that the Fidelius Group has decided to partner with PAM.

“The combination of PAM’s investment management capabilities with the strength and breadth of Fidelius Group’s chartered financial planning expertise makes for a strong long-term partnership and great cultural fit, not only for our group, but for our advisers and all our clients.”

Fidelius Group CEO Jim Grant said: “We are very excited to welcome Chartered Financial Management (UK) and Zen Wealth to the Fidelius family.

“Both are high quality, profitable businesses which have long shared our ‘client first’ ethos. The partnership with PAM will bring significant cost benefits to clients, strengthen our investment offering and add value to our advisers.”

PAM is the core asset management business of Pacific Investments Group. According to the company, it has grown its assets under management to around £1.2bn within a period of four years.

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