Pacific AM acquires Parallel IM in Fidelius Group tie-up

Largest strategic partnership to-date for Pacific

Mike Sheen
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Jim Grant of Fidelius Group and Matthew Lamb of Pacific AM
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Jim Grant of Fidelius Group and Matthew Lamb of Pacific AM

Pacific Asset Management has entered into its largest strategic partnership to date, which will see the investment manager acquire Chartered financial planner Fidelius Group's DFM arm Parallel Investment Management.

The partnership will also see Pacific take on Fidelius' range of risk-targeted model portfolios, while the Bath-based Chartered financial planner will take control of the investment manager's financial planning firms. Growing its £1.1bn assets under advice (AUA), Fidelius will take charge of £250m AUA Chartered Financial Management (UK) and £30m AUA Zen Wealth, which Pacific acquired in July 2018 and 2019 respectively. Under the agreement, Pacific will take on Parallel's model portfolios, which are understood to have represented about £400m in assets under management prior to the ongo...

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