Swedish group Söderberg & Partners has bought another significant minority stake in a UK financial services group, as part of a move to increase its footprint in the UK advice space.

The firm’s latest investment, in Bath-based advice firm Fidelius, remains subject to approval from the Financial Conduct Authority (FCA).

Fidelius has offices across Bath, Cheltenham, Chelmsford, London and Mansfield and offers a range of advisory services including wealth management, employee benefits, mortgages, and advice to returning expats.

Commenting on the investment, Fidelius CEO, Jim Grant, said: “In Sӧderberg we have found a partner who sees the world the same way we do. I am very excited to have Sӧderberg working alongside us to support Fidelius in investing into smaller entrepreneurial firms who require the correct support and resource in order to realise their true growth potential.

“It can be hard for financial planning firms to raise quality investment to allow for growth, but with Sӧderberg we can help make this a reality. We look forward to talking to firms, teams or individuals who need a bridge to allow them to build a business focused on growth and future value.”

Söderberg’s latest move follows a string of investments in UK advice firms, having earlier this month announced it had purchased stakes in London wealth manager Vintage, and Croydon-based PK Financial.

Last year, the Swedish group also took a majority stake in Timothy James & Partners and minority stakes in Cambridge-based Dartington Wealth Management, Generation and Atherton York in North London.

Söderberg CEO, Gustaf Rentzhog, added: “Fidelius is a business with significant upside potential. With a strong brand and an exceptionally experienced management team, I have no doubt that this already successful and growth-oriented business will go from strength to strength.”

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