RCS - Fintel PLC - Conditional acquisition of RSMR

FintelAnnouncement

16/07/2024 07:00

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RNS Number : 4180W  Fintel PLC  16 July 2024

16 July 2024

Fintel plc

 

("Fintel", the "Company" or the "Group")

 

Conditional acquisition of RSMR

 

 

Fintel (AIM: FNTL), the leading provider of fintech and support services to
the UK retail financial services sector, today announced that it has
conditionally agreed to acquire Rayner Spencer Mills Research Limited
("RSMR"), one of the most recognised fund ratings and research agencies in the
UK.

 

Fintel will acquire RSMR via Defaqto, the leading provider of financial
information, ratings and fintech, further extending its fund research and
ratings capabilities for financial services and investment professionals. The
acquisition is expected to complete in the coming months, subject to
regulatory approval.

 

The acquisition is in line with Fintel's strategy to expand into adjacent
markets, adding scale, IP and quality data sets to help the market understand
and improve the suitability of financial products. RSMR will be the ninth
business acquired by Fintel over the past twelve months, joining AKG,
VouchedFor, Competent Adviser, Micap, Synaptic, Owen James, ifaDASH and
threesixty on its expanded service and technology platform.

 

Matt Timmins, Joint CEO of Fintel, commented:

 

"RSMR's fund ratings and portfolios are trusted by over 15,000 advisers across
the UK. Utilising a rigorous research methodology, their ratings are a badge
of quality, due diligence and reputation. RSMR is another strategically
important acquisition, adding industry expertise, insight and data that is
complementary to Defaqto's.

 

"I have worked with Ken, Geoff and the team at RSMR for a long time and hugely
admire their research methodology, independence and dedication to the market.
Their history, pedigree and ambition will add significantly to our business
and I am delighted that RSMR have chosen Defaqto and Fintel to support the
next stage of their growth.''

 

ENDS

 

For further information, please contact:

 Fintel plc                                     via MHP Group

 Matt Timmins (Joint Chief Executive Officer)

 Neil Stevens (Joint Chief Executive Officer)

 David Thompson (Chief Financial Officer)

 MHP Group (Financial PR)                       +44 (0)7736 464749

 Reg Hoare                                      Fintel@mhpgroup.com (mailto:Fintel@mhpgroup.com)

 Robert Collett-Creedy

 

 

Notes to Editors

Fintel is the UK's leading fintech and support services business, combining
the largest provider of intermediary business support, SimplyBiz, and the
leading research, ratings and Fintech business, Defaqto.

 

Fintel provides technology, compliance and regulatory support to thousands of
intermediary businesses, data and targeted distribution services to hundreds
of product providers and empowers millions of consumers to make better
informed financial decisions. We serve our customers through three core
divisions:

 

The Intermediary Services division provides technology, compliance, and
regulatory support to thousands of intermediary businesses through a
comprehensive membership model. Members include directly authorised IFAs,
Wealth Managers and Mortgage Brokers.

 

The Distribution Channels division delivers market Insight and analysis and
targeted distribution strategies to financial institutions and product
providers. Clients include major Life and Pension companies, Investment
Houses, Banks, and Building Societies.

 

The Fintech and Research division (Defaqto) provides market leading software,
financial information and product research to product providers and
intermediaries. Defaqto also provides product ratings (Star Ratings) on
thousands of financial products. Financial products are expertly reviewed by
the Defaqto research team and are compared and rated based on their underlying
features and benefits. Defaqto ratings help consumers compare and buy
financial products with confidence.

 

For more information about Fintel, please visit the website:
www.wearefintel.com
(https://protect.checkpoint.com/v2/___http:/www.wearefintel.com___.bXQtcHJvZC1jcC1ldXcyLTE6bmV4dDE1OmM6bzpkNWU1MTAwNzg2Y2YxZmIyZWE1MzZiZWVkZjM5NWY4Mzo2OjViMzM6ZWEwODI5YTg0ZjI3MmU2ZGQ4NGI0NmY0MWNiZmZlZGI0ODQzM2Y1Njk4YjcwZGNhZmVkNmE1NzQ3ZTk1NjM2YzpwOkY6Tg)

 

 

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