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Fintech and adviser assist agency Fintel has accomplished the acquisition of assist providers agency Threesixty from Abrdn for £14.6m, the agency introduced at present.
Fintel has acquired 100% of the shares for £14.6m in money upfront.
Threesixty supplies compliance and assist providers to 950 middleman companies.
Threesixty joins a rising roster of companies providing compliance and enterprise assist to intermediaries acquired in latest 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 broaden its Middleman Providers division.
Neil Stevens, joint CEO of Fintel, mentioned: “I am delighted to welcome the very gifted group and prestigious shopper base of Threesixty to Fintel, and we’re dedicated to upholding and serving to to additional construct upon its robust model and high quality providers.
“Threesixty’s management group is absolutely supportive of the acquisition and can stay with us to see it develop and develop transferring ahead, as will all present groups throughout the enterprise.
“We’re assured we are able to additional improve providers for Threesixty purchasers with joint funding in know-how and can discover alternatives to make the advantages of our wider know-how and information platform obtainable over time.
"Fintel stays dedicated to providing as a lot alternative as doable to advisers and can proceed to run Threesixty as an unbiased enterprise with its personal choices and pricing available in the market, alongside our present companies."
Russell Facer, Threesixty CEO, mentioned: “We’re delighted to hitch Fintel, a enterprise which shares our imaginative and prescient and values and one which we now have identified for a few years.
“We’re additionally capable of provide the strongest dedication to our purchasers and our groups that the Threesixty model and unbiased choices will stay in place to proceed to offer real alternative for adviser companies.”
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