Intelliflo sold to investment management firm Invesco

The technology platform has been owned by HgCapital, a European private equity investor in B2B technology companies, since 2013.

Intelliflo says the partnership with Invesco will enable it to "deliver unrivalled support for UK financial advisers".

Nick Eatock, executive chairman of Intelliflo, said: “We are really excited by the promising future for our business and clients as part of Invesco’s global organisation. This will allow us to significantly invest in our core technology to help advisers meet the rapidly evolving demands of providing advice in the 21st century.”

Hamish Purdey, Intelliflo CEO, added: “In a comparatively short space of time, we have built one of the UK’s largest pure-play Software as a Service businesses, and we now look forward to expanding our business, taking our market-leading technology into new markets across the globe.

“We will continue with our open architecture philosophy after the sale – it remains critically important to us that our financial advisor customers continue to be able to partner with the platforms, product providers, asset managers and software partners they choose.”

Martin L. Flanagan, president and CEO of Invesco, commented: “Invesco believes that financial advisers play an important role in enabling clients to reach their unique investment goals. The UK continues to be a key market focus for Invesco. We fully recognize that digital solutions are increasingly important as we seek to improve the support we provide for advisers to help them and their clients achieve their desired investment outcomes.”

Andrew Schlossberg, senior managing director and head of EMEA for Invesco, said: “Intelliflo is a truly innovative, market-leading technology provider. With a shared focus on supporting advisers in delivering great investment outcomes for clients, we are excited by the opportunities this acquisition offers for our financial adviser partners and clients in the UK.”