The weird and wonderful world of platforms
2020 was a landmark year for platforms – and as we enter 2021
the sector is ripe for another shakeup
By Katey Pigden 28
Eighteen months ago, as the newly appointed news editor of
Money Marketing who had been given platforms as their main beat, I almost talked myself out of a job when I openly admitted I didn’t really know what an adviser platform was.
They say there’s no such thing as a stupid question, but I’m sure my boss wondered why he had employed me when I asked: “What exactly do you mean by the term ‘platform’?” Luckily, he didn’t sack me on the spot or tell me he’d made a terrible mistake. Instead, he patiently explained how advisers used them to view and manage their client’s investments in one place.
Novia Financial sold to private equity firm for undisclosed sum
Anacap has now made three acquisitions in the UK wealth management space over the last year
Financial services private equity investor Anacap Financial Partners has made its third acquisition in the UK wealth management platform space with the purchase of Novia Financial.
The financial terms of the deal were not disclosed.
Novia is an independent investment and wrap platform with £8.15bn in assets under management, as well as a client base of around 67,000 through more than 1,000 IFA firms.
The acquisition marks the third investment from Anacap in the UK wealth management platform space and comes after acquiring Amber Financial Investments in July 2020 and Wealthtime in December 2019.
Novia sells to private equity firm Anacap
By Katey Pigden 15
th December 2020 9:30 am
Novia has been snapped up by Anacap Financial Partners, marking the private equity firm’s third acquisition in the UK platform space.
Last week,
Anacap made its first foray into the wealth management platform market with its purchase of Wealthtime.
The transaction was announced back in February and the firm says it was signed in December 2019. But it took several months before the FCA gave the go ahead.
The private equity company also signed a deal with Amber Financial Investments in July 2020, which recently received the green light from the regulator.
Platform to sell back shares of its international operation, CEO says
Financial services private equity investor AnaCap Financial Partners has made its third acquisition in the UK wealth management platform space with the purchase of Novia Financial.
The financial terms of the deal were not disclosed.
Novia is a UK-based independent investment and wrap platform with £8.15bn ($10.84bn, €8.93bn) in assets under management, as well as a client base of around 67,000 through more than 1,000 IFA firms.
The acquisition marks the third investment from AnaCap in the UK wealth management platform space and comes after acquiring Amber Financial Investments in July 2020 and Wealthtime in December 2019.
Novia bought by private equity firm AnaCap
Undisclosed fee
Private equity investor AnaCap Financial Partners has made its third acquisition in the wealth management platform space by acquiring adviser platform Novia Financial.
The purchase, subject to regulatory approval, means AnaCap has now acquired nearly £11bn of assets under management (AUM) in the sector. In December last year, AnaCap bought Wealthtime and then in July.
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