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Wednesday, June 06, 2018|
Invesco Buys More FA-Friendly FinTech
Marty Flanagan is doing another deal in the FA-friendly fintech space, this time across the pond.
Invesco [profile] has acquired London-based Intelliflo from HgCapital, Flanagan confirms today. The pricing and terms of the deal were not disclosed as it "was not material to Invesco's financial position," though it values HgCapital's HgCapital Trust's Intelliflo stake at 16.8 million pounds ($22.55 million). (Hg has backed Intelliflo since 2013.)
Deloitte, Evercore, and Linklaters advised Intelliflo and Hg on the deal, and management were advised by Fieldfisher.
Seeking Alpha picked up on the news.
Statements from Intelliflo and Invesco describe Intelliflo, which launched in 2004, as "the No. 1 technology platform for financial advisers in the UK," as about 30 percent of FAs there use the service. The deal comes two and a half years after Invesco bought an FA-friendly roboadvisor here in the U.S.
Printed from: MFWire.com/story.asp?s=58155
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