Expanding Bath-based Chartered Financial Planner Fidelius has merged with London-based wealth manager Timothy James & Partners (TJP).  

Both firms are part-owned by Swedish wealth manager Sӧderberg & Partners which has taken stakes in many UK wealth managers and Financial Planners in recent years.

The merged business will comprise 50 advisers, revenues of more than £30m and AUM of over £3bn.

Fidelius Group has more than 158 employees based at its offices in Bath, Chelmsford, Cheltenham, Mansfield and London. The group targets clients in the SME, professional, medical, arts and media sectors.

Fidelius received a substantial investment from Sӧderberg & Partners last year and has grown organically and by acquisition.

TJP will become part of Fidelius but will retain its own name and branding, Fidelius says. 

TJP’s founder and managing director Tim Whiting will lead a new “focused, fast growth team” targeting larger clients and TJP’s senior management team will remain in place to ensure a seamless transition.

TJP has 16 Financial Planners, mostly working in London.

The combined business will have offices in Bath, Cheltenham, Chelmsford, London and Nottingham offering wealth management, employee benefits, corporate wealth and mortgages.

Ian Fowler, CEO at Fidelius, said: “We are delighted to have the opportunity to bring the Fidelius and TJP businesses together into a large advice firm with a laser focus on advice and client service and ambition to become the top independent chartered firm in the UK.

“This partnership will be a significant step in our five-year plan for growth, giving us the scale to create central services and a centre of excellence to help power the teams at Fidelius, TJP and the other great advice firms we work with. We are excited about the merged capability of the two businesses.”

Tim Whiting, founder and managing director at Timothy James & Partners, said: “Our combined business will be a strong force in the advice market and build our presence beyond London.”

Fidelius has made a number of investments in adviser firms itself including recently a non-controlling holding in Vobis Ltd, a London Financial Planning business specialising in high-net-worth clients. Vobis has more than £140m in assets under management and a top 60 accountancy practice joint venture.

Sӧderberg & Partners entered the UK adviser market in 2023 and aims to partner with up to 1,000 financial advisers in the UK within five years. It was founded in Sweden 2004 and has more than 4,000 employees in 110 offices in Sweden, Norway, Denmark, Finland, the Netherlands, Luxembourg and Spain, and more than £60bn in assets under management and advice.