SimplyBiz parent company acquires Threesixty from abrdn

Fintel, the parent company of SimplyBiz, has conditionally agreed to acquire Threesixty Services from abrdn.

Threesixty provides compliance and business support services to over 900 independent financial adviser and wealth manager firms.

Fintel, formerly known as SimplyBiz Group, acquired financial services rating service Defaqto in 2019.

Earlier this year, it announced investments in two intermediary firms as part of its strategic growth plans.

Fintel invested £1.5m in return for 5.8% of Mortgage Brain. Mortgage Brain serves over 15,000 intermediaries with a suite of software sourcing solutions, submissions and CRM.

The firm also announced the acquisition of ifaDASH, a reg-tech solution that assists intermediaries with running a compliant business. The acquisition was made through Fintel IQ, complementing its existing CRM software.

Fintel previously acquired adviser review site VouchedFor and provider of financial information, ratings and fintech, AKG.

Neil Stevens, joint CEO of Fintel, commented: “We believe that Fintel is the natural home for the Threesixty team and clients. We have been committed to supporting professional advice firms for over 20 years, and our group aims to operate the strongest independent brands and most prestigious services, software and data offerings in the market.”