Pacific AM acquires Chartered financial planner's DFM arm in Fidelius Group tie-up

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...