AnaCap Financial Partners (“AnaCap”), a leading specialist European financial services private equity firm, today announces an agreement to acquire a leading wealthtech platform, Wealthtime (“the Company”), as the initial investment in a sector growth and consolidation strategy.
Founded in 2006, Wealthtime consolidates the investment portfolios and financial assets of individuals seeking advice from Independent Financial Advisers (“IFAs”) into one clear and easy to use online service offering.
Wealthtime has developed its own market-leading, proprietary technology platform which delivers material administrative efficiencies and superior analytics and reporting to IFAs. The Wealthtime platform ensures its Advisers have all the administrative support and information they need in one secure online service, via a single, digital hub. The platform provides these services across a wide array of products including ISAs, bonds, cash accounts, privately held investment portfolios and pensions, to provide an intelligent and efficient single solution and complete picture of their clients’ financial position
Today, Wealthtime has more than €2 billion AuA and this investment signals the start of a planned series of strategic partnerships and bolt-on acquisitions in the UK, creating an attractive buy and build opportunity in a fragmented market, as well as an ambitious organic growth strategy founded on its highly attractive proprietary technology. Completion of the transaction is subject to regulatory approval.
Nassim Cherchali, Managing Director at AnaCap, commented:
“The acquisition of Wealthtime represents AnaCap’s first step into the UK wealth management space, with their highly impressive proprietary technology platform being a significant catalyst for the pursuit of this deal. Wealthtime is widely recognised in the IFA community for its high-quality service offering, while already showcasing an impressive customer base that has largely been established through word of mouth alone to date.
We are very excited to implement the first stage of our plan to invest in the Company’s sales and distribution platform as well as to work with management in implementing the targeted buy and build strategy for 2020 and beyond.”