Fintel , the parent company of SimplyBiz, has finalised the acquisition of Threesixty from Abrdn for GBP 14.6 million in cash. Threesixty specialises in personalised compliance and regulatory support for financial advice firms.

This acquisition is expected to expand Fintel’s service offerings to intermediaries. According to mortgagesolutions.co.uk, Threesixty serves 900 intermediary customers, including independent financial adviser (IFA) firms and wealth managers. Following the acquisition, tt will integrate with Fintel’s existing brands such as SimplyBiz, Compliance First, and SIFA to enhance compliance and business support services.

Additionally, it will join other subsidiaries under Fintel, such as Defaqto, VouchedFor, and Synaptic. In light of these new developments, representatives from Fintel expressed satisfaction with the acquisition, emphasising plans to uphold Threesixty’s brand and services. What does this mean for Threesixty? Threesixty’s leadership team will remain onboard to support its growth within Fintel.

Officials also highlighted future investments in technology to enhance client services. The acquisition has transitioned all 72 of Threesixty’s staff members to Fintel. Officials highlighted the importance of maintaining Threesixty’s culture, drive, and client-focused approach, aligning with Fintel’s commitment to the independent financial advice marketplace.

Representatives from Threesixty reassured clients and teams that Threesixty’s brand and independent offerings would continue unchanged under Fintel’s ownership. Fintel's strategy Fintel reported an annual increase in gross profit from GBP 9.5m to GBP 10.9m in 2023 according to mortgagesolutions.co.uk. This reflected the company's financial performance leading up to the acquisition of Threesixty.

This deal is part of Fintel’s broader acquisition strategy, as the company aspires to be a comprehensive service provider for advisers. While Fintel has not confirmed any specific future acquisitions, company representatives indicated that they continue to seek market-leading brands and technology to enhance offerings and maintain a competitive edge. .