ATLANTA, June 6, 2018 /PRNewswire/ -- Invesco Ltd. has
acquired Intelliflo, a market-leading UK provider of
advisor-focused digital solutions.
Since its inception in 2004, Intelliflo has experienced rapid
growth and has become the No. 1 technology platform for financial
advisors in the UK1, successfully supporting the
business of approximately 30% of UK advisors. Intelliflo's
Intelligent Office ("iO") software platform is the backbone of the
UK wealth sector, assisting financial advisors across the full
advice journey – including client relationship management,
financial planning, client reporting, portfolio valuation and
provision of advisor-led automated advice.
"Invesco believes that financial advisors play an important role
in enabling clients to reach their unique investment goals," said
Martin L. Flanagan, President and
CEO of Invesco. "The UK continues to be a key market focus for
Invesco. We fully recognize that digital solutions are increasingly
important as we seek to improve the support we provide for advisors
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," said
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 organization,"
said 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," said Andrew Schlossberg,
Senior Managing Director and Head of EMEA for Invesco. "With a
shared focus on supporting advisors in delivering great investment
outcomes for clients, we are excited by the opportunities this
acquisition offers for our financial advisor 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," said
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."
The transaction has closed. Given that the transaction was
not material to Invesco's financial position, terms of the
transaction were not disclosed. This transaction will not
impact Invesco's intention to resume share buybacks by yearend
2018, when the firm's debt leverage is reduced to the previously
announced targets. Evercore acted as financial adviser to
Intelliflo.
1 Platform - Adviser Market: Fintech and
Digital, January 2018 report
About Invesco Ltd.
Invesco is an independent global
investment management firm dedicated to delivering an investment
experience that helps people get more out of life. NYSE: IVZ;
www.invesco.com
About Intelliflo
Intelliflo offers a comprehensive
front-to-back office technology platform for financial advisers and
their support teams. The business currently supports 19,000
investment professionals who manage in excess of £300bn of assets
on behalf of more than 10.5 million end clients. Intelliflo sells
to approximately 2,000 firms, including Legal & General,
Nationwide Building Society and SimplyBiz (figures as at
Dec. 31, 2017).
Intelliflo's Intelligent Office ("iO") software platform is the
backbone of the UK wealth sector, supporting financial advisers
across the full advice journey (including client relationship
management, financial planning, client reporting, portfolio
valuation and provision of automated advice). iO operates from a
single instance, multi-tenant SaaS platform which enables
integration and connectivity, high scalability and rapid
functionality development.
Intelliflo has enjoyed rapid growth since its inception in
2004. In the past three years, it has achieved revenue CAGR of
19%, and in the year ended December 31,
2017, 91% of its revenues were recurring.
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SOURCE Invesco Ltd.