Fintel, owner of SimplyBiz and Defaqto, is to partner with Tatton Asset Management to provide a new range of services for adviser firms.

Under a new distribution partnership deal Tatton will license Fintel’s adviser technology and acquire its Verbatim fund ranges. 

Tatton will also license Defaqto’s Financial Planning solution ‘Defaqto Engage’ for its adviser firms. 

The Verbatim multi-asset and multi-index funds will add about £650m to Tatton Investment Management’s AUM and extends its IFA relationships by over 800 firms.

Tatton has also engaged Fintel’s new ‘Distribution as a Service’(DaaS) solution which provides fund managers with data and insights on consumer preferences.

The firms says the distribution deal allows Fintel to utilise its relatively recent acquisition of Defaqto by developing a “new era of fintech and distribution propositions at an enterprise level.”

Tatton will also be able to expand its range of investment solutions to new advisers and clients. 

The partnership will see a new Enterprise version of Fintel’s adviser platform, Defaqto Engage, built for Tatton’s adviser firms. Defaqto Engage is a suite of Financial Planning software.

The Distribution Partnership also sees Tatton access Fintel’s Strategic Asset Allocation service enabling Fintel to combine the Tatton Model Portfolio Service into its offering.  This will establish its MPS range within their “Risk Controlled” investment solutions, alongside the Verbatim funds.

Lothar Mentel, chief investment office, said: “The Verbatim funds have a proven track record over 10 years and have been widely adopted by over 800 financial advisers. The new funds will help Tatton further extend its reach into the Multi-Asset landscape offering flexibility and choice alongside our existing funds and model portfolio solutions.”

Paul Hogarth, chief executive officer, Tatton, said: “I am delighted to announce our strategic partnership with Fintel plc, a firm whose strategy and values are aligned with our own; keeping the IFA at the heart of our respective businesses.

 “This clearly demonstrates the progress we are making in executing our growth strategy. We have set out a roadmap for growth over the next three years, growing our AUM organically and by acquisition extending our reach into the IFA community, the lifeblood of our industry, through strategic partnerships. This transaction is evidence of that strategy in action, enhancing our proposition to IFAs and their clients further, with the funds complementing and extending our current fund range.

Matt Timmins, joint CEO of Fintel, said: “This long-term partnership further strengthens our fintech and distribution propositions and sees us working collaboratively for the benefit of the intermediary market. The deal is the coming together of two businesses completely focused on delivering effective solutions to advisers, helping them access the best technology and fund solutions in the market.

Fintel’s CEO of Fintech and research and Defaqto John Milliken, said: ‘’This latest partnership reflects our position as the enterprise solution for intermediaries seeking growth, efficiency and sector-leading risk management.’’