Sat, 10 Apr 2021 | BUSINESS SALE
Fidelius Group has completed the acquisition of Bath-based financial advisory firm Robson Taylor IFA for an undisclosed amount. The acquisition is Fidelius’ fifth and continues a recent wave of M&A activity in the advice and wealth management sector.
The acquisition brings £105 million in assets under management (AUM) and £780,000 in revenue to Fidelius, which has an existing £1.75bn in AUM. Post-acquisition, Robson Taylor IFA will rebrand to Fidelius, but otherwise all staff, including principals Paul and Debbie Timmins, will remain with the company.
Fidelius Group CEO Jim Grant said that he had “long thought Robson Taylor IFA would be an excellent fit for Fidelius, when the time was right for all parties.”
“Paul, Debbie and the team at Robson Taylor IFA have worked very hard to build a great business, which is focussed on valued long-term client relationships, and this fits very well with the Fidelius approach,” Grant added.
Fidelius said that Robson Taylor IFA would benefit from the wider group’s technology, economies of scale and administration. It also added that Robson Taylor IFA’s clients would see no changes to their costs.
Discussing the sale, Robson Taylor IFA Principal Paul Timmins said: "Fidelius is an extremely well-respected business with shared client-centred values. With an ever-increasing regulatory burden, we are now looking forward to adopting their services and expertise, benefitting from the economies of scale that Fidelius, as a bigger business, has in place.”
Increasing compliance burdens are one of the key drivers behind the current wave of advice sector M&A. Climate related disclosures will apply to UK IFAs from 2022. These are similar to EU measures introduced last month requiring the implementation of Environmental Social and Governance (ESG) processes.
Furthermore, with UK regulators increasingly wary of the security threats posed by technology, the FCA has stated that, by the end of this year, all UK IFAs must be able to demonstrate their robust operational and cyber resilience.
Paul Timmins added that: “My saved time can be used to focus 100 per cent on servicing my clients, which is the part I enjoy most.”
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An exciting opportunity to acquire a well-established independent financial advisor firm with £125m in funds under management in Wiltshire.
Although profitable, this business has quality personnel who can continue working, leading to a smoother transition post sale.
This firm represents a superb opportunity to establish a hub, with staff and offices already in place.
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