Fintel, a support specialist for the retail financial services sector, has acquired VouchedFor and AKG for a combined £9.1 million.
In brief:
-VouchedFor is a review site for professional advisors, while AKG is a financial strength ratings company for life companies, investment platforms and discretionary fund managers in the UK.
-Fintel says that the deal will help it promote the value of financial advice while also increasing consumer confidence and trust in the retail financial services market.
-At the same time, it leveraged its subsidiary, the financial ratings system Defaqto, to complete its purchase of AKG in a deal worth £1.6 million.
What does this mean?
Fintel’s double acquisition this week for the total sum of £9.1 million marks its third and fourth acquisitions this year, after the UK-headquartered company previously snapped up investment advisory service Micap and learning and development provider Competent Adviser in July.
