Fintel acquires threesixty services for £14.6 million
#Fintel, a leading provider of #Fintech and advisory support services, has successfully acquired #Threesixty Services from asset manager Abrdn for £14.6 million. Threesixty, which serves over 900 advice and wealth management firms, reported external revenues of £6.5 million last year.
This strategic acquisition is set to bolster Fintel’s offerings to professional intermediaries, enhancing the capabilities of its other entities like SimplyBiz, Compliance First, and SIFA. The integration will provide Threesixty’s clients with access to Fintel’s advanced technology and comprehensive service platforms.
Neil Stevens, Fintel’s joint chief executive, highlighted the mutual commitment to promoting high-quality professional financial advice. He expressed confidence that the acquisition would expand the range of quality services available in the financial advice sector. Stevens emphasized the potential for further enhancement of services for Threesixty clients through joint investments in technology, with plans to leverage Fintel’s broader technology and data platform over time.
By integrating Threesixty’s extensive client base and service offerings, Fintel aims to drive growth and innovation, providing enhanced value to clients and expanding its market footprint. The move reflects a broader trend of consolidation in the FinTech industry, aiming to deliver more comprehensive and technologically advanced solutions to meet the evolving needs of financial professionals and their clients.
The article on FinTech Global in the first comment.
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