AnaCap Financial Partners has agreed to acquire leading wealth tech platform, Wealthtime, which 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.
Developed its own market-leading, proprietary technology platform which delivers material administrative efficiencies and superior analytics and reporting to IFAs, Wealthtime provides administrative support across a wide array of products including ISAs, bonds, cash accounts, privately-held investment portfolios, and pensions.
Wealthtime has currently more than €2 billion assets under administration. The investment will give life to a strategic expansion, buoyed by a series of strategic partnerships and bolt-on acquisitions in the UK. The firm will take advantage of the opportunities in a fragmented market and also grow organically.
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 recognized 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.”
Wealthtime boasts a number of products such as: Self Invested Pension Plan (SIPP), which can hold a range of collective investments, which are held in a tax efficient way, free of most UK taxes on income and capital gains; Personal Investment Portfolio (PIP), which can hold a variety of investments. Cash and existing investments may be transferred in or out; Offshore Bond, which is part of the firm’s Private Client Service; Individual Savings Account (ISA), which is available to those wishing to invest. Investors can use up to their full annual ISA allowance to hold investments, in a tax-efficient environment.
