(Money Marketing) - Abrdn has acquired investing insights platform Finimize, a firm that empowers retail investors to make informed investment decisions.
Finimize, which has over 1 million subscribers to its daily newsletter and around 40,000 premium subscribers.
It aims to making investing accessible and digestible to clients.
The deal with Abrdn will allow Finimize to benefit from the group’s global network of partners and operational infrastructure.
Abrdn will also be able to utilise the tech firm’s unique content delivery technology, editorial and content skills as well as insights into its highly engaged investor community.
Finimize will continue to operate as an independent brand and insights platform, and its chief executive Max Rofagha will join Abrdn’s leadership team.
Abrdn chief executive Stephen Bird said: “The acquisition further supports our strategic ambition to deliver client-led growth through enabling our clients to be better investors. Finimize’s vision to empower smarter investors is a perfect fit for the group.”
Finimize CEO Max Rofagha added: “In a world where technology has largely removed the friction from investing, information is king. There’s been huge amounts of innovation in the brokerage space, but very little when it comes to information.
“We’re excited to be at the forefront of changing this with the backing of a major financial institution that shares our vision.”
Talking to Money Marketing about the deal, Financial Technology Research Centre founder and director Ian McKenna said: “In the digital world reaching people is one of the most important things you do, getting eyeballs in tech parlance.
“So many robo advisers failed because they couldn’t afford the cost of customer acquisition.
“A deal like this makes a lot of sense, abdrn obviously has a very large customer base and equally Finimize has a strong audience of people who are exactly the sort of users abdrn would want as its next generation of customers.
“The deal is analogous to Moneysupermarket buying Money Saving Expert, a transactional capability acquiring a significant audience of customers.
“Martin Lewis continues to be seen as an independent and authoritative commentator, the challenge for Finimize will be to maintain its current credentials under the new ownership, in the same way Lewis has done.”
