Fintech and adviser assist agency Fintel has accomplished the acquisition of assist companies agency Threesixty from Abrdn for £14.6m, the agency introduced right this moment.
Fintel has acquired 100% of the shares for £14.6m in money upfront.
Threesixty offers compliance and assist companies to 950 middleman companies.
Threesixty joins a rising roster of companies providing compliance and enterprise assist to intermediaries acquired in current occasions by SimplyBiz, together with Compliance First and SIFA.
Fintel has additionally acquired many different companies together with fintech Defaqto, VouchedFor, Competent Adviser, AKG, MICAP, Owen James, ifaDASH and Synaptic.
Fintel says the deal will assist increase its Middleman Providers division.
Neil Stevens, joint CEO of Fintel, stated: “I am delighted to welcome the very gifted crew and prestigious shopper base of Threesixty to Fintel, and we’re dedicated to upholding and serving to to additional construct upon its sturdy model and high quality companies.
“Threesixty’s management crew is absolutely supportive of the acquisition and can stay with us to see it develop and develop transferring ahead, as will all current groups inside the enterprise.
“We’re assured we are able to additional improve companies for Threesixty shoppers with joint funding in know-how and can discover alternatives to make the advantages of our wider know-how and knowledge platform out there over time.
“Fintel stays dedicated to providing as a lot selection as potential to advisers and can proceed to run Threesixty as an impartial enterprise with its personal choices and pricing available in the market, alongside our current companies.”
Russell Facer, Threesixty CEO, stated: “We’re delighted to affix Fintel, a enterprise which shares our imaginative and prescient and values and one which we now have recognized for a few years.
“We’re additionally in a position to provide the strongest dedication to our shoppers and our groups that the Threesixty model and impartial choices will stay in place to proceed to supply real selection for adviser companies.”