Compliance and support firm Threesixty has taken a 25 per cent stake in outsourced Paraplanning firm The Timebank which is headed by Damian Davies.
This will extend the range of services Threesixty is able to offer to financial advisers and Financial Planners.
The decision will mean Threesixty managing director Phil Young will take a position on The Timebank board.
Mr Young said the two firms had a number of mutual clients and he looked forward to working with a growing Paraplanning business.

He said: "We are all delighted to be working with Damian and The Timebank team, we've had a number of mutual clients for some years now and the opportunity to invest in and grow a Paraplanning business in the UK is really exciting.
"We've been very supportive of the emerging Paraplanning profession for some time so this is a natural step for us. Harnessing our compliance and technical expertise to The Timebank's planning prowess is a very compelling proposition."
Mr Davies, managing director of The Timebank, said: "We were honoured when Threesixty approached us with this opportunity and the timing couldn't be better for us.
"While we have built the business to the current point organically, this relationship gives us the opportunity to speed up plans and launch new services to help IFAs capitalise on the current environment."