The latest mergers, acquisitions and other corporate actions in the wealth management sector.

Fintel, threesixty
Fintel, the parent company of SimplyBiz and Defaqto and provider of fintech and support services to the UK retail financial sector, has just completed its acquisition of threesixty from abrdn.

The firm has confirmed the acquisition of 100 per cent of the issued share capital in threesixty for a gross upfront cash consideration of £14.6 million ($18.5 million). The deal will strengthen the range and quality of services it offers to the intermediary market.

Threesixty will join SimplyBiz, Compliance First, and SIFA to offer compliance and business support to intermediaries as part of Fintel, which also houses industry brands including Defaqto, VouchedFor, Competent Adviser, AKG, MICAP, Owen James, ifaDASH, and Synaptic.

“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,” Neil Stevens, joint CEO of Fintel, said in a statement.