SimplyBiz-owner Fintel has completed the acquisition of broker support services firm threesixty from abrdn for £14.6m in cash. 

Threesixty clients include more than 900 independent financial advisers and fund management firms as well as 10,000 advisers.

It offers regulatory and business services, such as advice for firms seeking direct authorisation, continuous professional development training and Consumer Duty guidance. It posted “external revenues” totalling £6.5m last year. 

Aim-listed financial services and consultancy Fintel says its new acquisition will join other of its key brands SimplyBiz, Compliance First, and SIFA in offering compliance and support to intermediaries. 

Fintel joint chief executive Neil Stevens adds: “We are confident we can further enhance services for threesixty clients with joint investment in technology and will explore opportunities to make the benefits of our wider technology and data platform available over time.   

“Fintel remains committed to offering as much choice as possible to advisers and will continue to run threesixty as an independent business with its own offerings and pricing in the market, alongside our existing businesses. 

“Our intention is to grow the strong brand and quality services of threesixty with the full support of the existing leadership, who will remain with the business to see it develop in the future.” 

Fintel says the acquisition was funded from its “existing financial resources,” and was first announced on 28 June. 

Threesixty is the eighth business acquired by Fintel over the past year, joining AKG, VouchedFor, Competent Adviser, Micap, Synaptic, Owen James, and ifaDASH.