Fintel signs £14m deal to buy Threesixty from Abrdn

Fintel has completed the acquisition of Threesixty from Abrdn; the deal was first announced last week (June 28).

Fintel has confirmed the acquisition of 100% of the share capital of Threesixty for gross cash consideration of £14.6 million.

Threesixty serves 900 broker clients. It provides regulatory and business services to independent financial advisors and wealth managers.

It will join SimplyBiz, Compliance First and SIFA in offering intermediaries compliance and business support as part of Fintel.

Fintela also owns brands such as Defaqto, VouchedFor, Competent Adviser, AKG, MICAP, Owen James, ifaDASH and Synaptic.

Fintel CEO Neil Stevens said: “The Threesixty management team fully supports the acquisition and will remain with us to see it develop and scale further, as will all the existing teams across the business.

“We are confident that by investing in technology together, we can further enhance the service we provide to Threesixty’s customers. Over time, we will look to extend the benefits of our broader technology and data platform.”

He added that Fintel will run Threesixty as an independent company with its own offering and market pricing, alongside its existing businesses.

“With our shared commitment to promoting the value of professional financial advice, we believe this agreement will further expand the choice of high-quality services in this important sector,” he added.

Threesixty CEO Russell Facer said the company remains “committed to its customers and teams.”

He said: “The Threesixty brand and independent offerings will remain in place to continue to provide advice firms with real choice.”