Intelliflo, a UK technology platform for financial advisers, has been acquired by Invesco. Intelliflo has been owned by HgCapital, a European private equity investor in B2B technology companies, since 2013.
Since its inception in 2004, Intelliflo has experienced rapid growth and has become the No1 technology platform for financial advisers in the UK, successfully supporting the business of approximately 30 per cent of UK advisers. Intelliflo’s Intelligent Office (iO) software platform is the backbone of the UK wealth sector, assisting financial advisers with client relationship management, financial planning, client reporting, portfolio valuation and provision of advisor-led automated advice.
“Invesco believes that financial advisers play an important role in enabling clients to reach their unique investment goals,” says Martin L Flanagan (pictured), President and CEO of Invesco. “The UK continues to be a key market focus for Invesco. We fully recognise that digital solutions are increasingly important as we seek to improve the support we provide for advisers to help them and their clients achieve their desired investment outcomes.”
“Invesco has a strong track record in the US, through our Jemstep digital advice business, of successfully partnering with and investing in technology experts to provide advisors with the innovative and flexible tools they need to develop their business, while maintaining an independent, open architecture approach,” says Colin Meadows, Senior Managing Director and Chief Administrative Officer for Invesco. “We look forward to seeing what Intelliflo can achieve for UK advisors with increased product investment.”
“We are really excited by the promising future for our business and clients as part of Invesco’s global organisation,” says Nick Eatock, Executive Chairman of Intelliflo. “This will allow us to significantly invest in our core technology to help advisers meet the rapidly evolving demands of providing advice in the 21st Century.”
“Intelliflo is a truly innovative, market-leading technology provider,” says Andrew Schlossberg, Senior Managing Director and Head of EMEA for Invesco. “With a shared focus on supporting advisers in delivering great investment outcomes for clients, we are excited by the opportunities this acquisition offers for our financial adviser partners and clients in the UK.”
“In a comparatively short space of time, we have built one of the UK’s largest pure-play Software as a Service (SaaS) businesses, and we now look forward to expanding our business, taking our market-leading technology into new markets across the globe,” says Hamish Purdey, Intelliflo CEO. “We will continue with our open architecture philosophy after the sale – it remains critically important to us that our financial advisor customers continue to be able to partner with the platforms, product providers, asset managers and software partners they choose.”