Fintech and support services firm Fintel, the owner of SimplyBiz and Defaqto, has acquired digital knowledge and competence management system Competent Adviser.

Competent Adviser provides compliance and development training to 15,000 users, supporting the completion of around 500,000 tests per year.

The compliance and development training provider is the first to be integrated into Fintel IQ, the firm’s new regulatory and business support platform.

Competent Adviser was founded in 2003 and offers testing, learning, reporting, CPD monitoring, training and consultancy to financial services businesses.

It is based in Dorking, Surrey.

The deal is for an undisclosed sum.

Competent Adviser said it chose to become part of Fintel to develop integrations and expand the firm’s reach.

Gillian Tait, managing director of Competent Adviser, said: “Being part of the Fintel family will enable us to develop deeper system integrations, invest in a wider scope of learning materials, and help us reach even more businesses across the UK.”

Neil Stevens, joint CEO of Fintel, said: “Fintel has worked with Competent Adviser for nearly a decade, and we know how much advisers’ value its simplicity, the flexibility of its modules, and the relevance of its content,

“The acquisition will enable tailored content and further system integrations to deliver even more relevance for each user and ensure efficient integration with other adviser software systems. The more streamlined we can help to make advisers’ processes, the more time will be freed up to spend with clients and, ultimately, ensure better outcomes for all.”

Fintel is also the parent of Defaqto and SimplyBiz, as well as holding a 25% stake in new Planner tech business Plannr Technologies.