3 July 2024
Fintel has announced the completion of its acquisition of threesixty from abrdn, further strengthening and developing the range and quality of services it offers to the intermediary market. It has confirmed the acquisition of 100% of the issued share capital in threesixty for a gross upfront cash consideration of £14.6m.
threesixty serves 900 intermediary customers, providing regulatory and business services to leading IFAs and wealth managers. It will join SimplyBiz, Compliance First, and SIFA in offering compliance and business support to intermediaries as part of Fintel, which also houses leading industry brands including Defaqto, VouchedFor, Competent Adviser, AKG, MICAP, Owen James, ifaDASH, and Synaptic.
Neil Stevens, Joint CEO of Fintel, commented:
“I'm delighted to welcome the very talented team and prestigious client base of threesixty to Fintel, and we are committed to upholding and helping to further build upon its strong brand and quality services. threesixty's leadership team is fully supportive of the acquisition and will remain with us to see it grow and develop moving forward, as will all existing teams within the business. 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. We will work with Russell and his team on the most effective approach to delivering these services to clients moving forward.
"Fintel remains committed to offering as much choice as possible to advisers and will continue to run threesixty as an independent business with its own offerings and pricing in the market, alongside our existing businesses. 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."
Russell Facer, threesixty CEO, added:
“The threesixty brand and offering is a premier choice for professional advisers. We have a talented team that is passionate about looking after our clients and their regulatory and business support needs. We are delighted to join Fintel, a business which shares our vision and values and one that we have known for many years. We are also able to offer the strongest commitment to our clients and our teams that the threesixty brand and independent offerings will remain in place to continue to provide genuine choice for adviser firms.”