Fidelius Group has completed on a deal with deVere UK that will see it offer specialised advice to returning expats.
The acquisition, made for an undisclosed fee, will add 28 staff and £280m assets under management to Fidelius, taking the group's overall AUM to £1.75bn.
The staff join from deVere's Mansfield office, which will become part of the Fidelius Group, adding to its current offices around England in Bath, Bridgewater, Chelmsford, Cheltenham and London.
As well as a specialism in advising returning expats, the deal will add a mortgage business to the national adviser group.
It is the second deal in less than a month for Fidelius, which acquired Bath-based Robson Taylor IFA at the beginning of April. That deal added £105m AUM and more than £750,000 in revenue to the group.
Fidelius Group CEO Jim Grant (pictured) said: "We are very pleased to welcome the deVere staff to Fidelius and we look forward to working closely with them to build on the great work that deVere have done in looking after the needs of their returning ex-pat clients. Fidelius has a long-standing relationship with deVere and this arrangement was a natural fit for our businesses.
"We are continually looking at new opportunities for growth, including acquisition, high level recruitments, establishing professional service JV's and opportunities to add significant expertise and value to the company."
First published by our sister title Professional Adviser
