FE fundinfo has acquired AdviserAsset, a due diligence and product selection tool provider to “strengthen its financial advice offering”.
The investment fund data and technology company said advisers are facing growing client demands for improved outcomes and deeper regulatory obligations since the introduction of the Consumer Duty.
FE fundinfo said: “AdviserAsset delivers in-demand and easy-to-use tools for advisers, and enables them to undertake product and platform switch analysis involving multiple client holdings.”
The additional AdviserAsset tools will be integrated with the current product framework for all clients, as a research and selection module powered by FE Analytics.
The acquisition is the latest in FE fundinfo’s “mission to empower advisers with a comprehensive, data-driven end-to-end platform that helps clients grow their business, manage risk and maintain the highest standards of service.”
FE fundinfo CEO Liam Healy said: “FE fundinfo is committed to becoming the go-to partner for the investment management community. Through our recent growth and strategic acquisitions like AdviserAsset, we are building a suite of solutions that support each critical function of the profession, from onboarding and engagement to research and planning.
“Professionals fundamentally want easy to use integrated tools that deliver clear recommendations, helping clients make informed decisions about their investment goals. We’ve already made several acquisitions to support advisers on this journey, and we will be continuously looking for new opportunities to deliver them greater access to investment insights.”
AdviserAsset founder & CEO Colin Turton added: “Changing where a client’s wealth is invested can be one of the more challenging moments for a financial adviser. There are clear FCA regulations under the Consumer Duty that mean change needs to be clearly justified and communicated to a client to help them make an informed decision.
“AdviserAsset has led the way in investment switching, costs and charges comparisons and platform due diligence, challenging the market to go further in delivering rigorous analysis to help advisers and their clients understand the implications of making a switch with their money. As part of FE fundinfo’s offering, it will help set a new benchmark for financial advice tools and services in the market today.”
FTRC founder Ian McKenna said: “This is a very smart acquisition by FE fundinfo as AdviserAsset will fit very well with its existing Analytics and Cashcalc proposition. The Consumer Duty makes AdviserAssets platform comparison capability an invaluable tool for adviser carrying out regular reviews. It may be as near as you can get to the silver bullet for catalysing the movement of asset and fund flows.”
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