Fintel, known for its extensive FinTech and advisory support services, has recently completed the acquisition of Threesixty Services from asset manager Abrdn, according to a report from City A.M..
Threesixty, a prominent provider to over 900 advice and wealth management firms, reported external revenues of £6.5m last year.
The acquisition, valued at £14.6m, aims to enhance Fintel’s existing service offerings to professional intermediaries and complements the capabilities of other Fintel entities such as SimplyBiz, Compliance First, and SIFA. According to Fintel, this acquisition will significantly benefit Threesixty’s clients by providing them access to Fintel’s robust technology and service platforms.
Neil Stevens, Fintel’s joint chief executive, expressed confidence in further improving services for Threesixty clients through combined investments in technology.
Fintel’s joint chief executive Neil Stevens said, “With a shared commitment to promoting the value of professional financial advice, we believe this deal will further expand the choice of quality services in this vital sector.
“We are confident we can further enhance services for Threesixty clients with joint investment in technology and will explore opportunities to make the benefits of our wider technology and data platform available over time.”
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