Fintel, the leading provider of fintech and support services to the UK retail financial services sector, has announced two further strategic acquisitions- VouchedFor and AKG.

VouchedFor provides reviews on a wide range of services, including financial advisers, mortgage advisers, solicitors, and accountants and currently has over 5,000 paying members and over 350,000 client reviews. Following the acquisition, its leadership and team will remain in place and work alongside the Fintel management team to play a crucial role in significantly expanding the reach and services of VouchedFor.

Fintel, the parent company of SimplyBiz and Defaqto, will acquire VouchedFor for £7.5m through Fintel IQ, the business’s technology and knowledge platform. The strategic acquisition will broaden Fintel’s services to the advice market through its technology and regulatory services platform.

Also announced today, Fintel’s subsidiary Defaqto has acquired AKG, a leading provider of independent assessments and ratings of financial strength for a range of organisations including life companies, investment platforms and discretionary fund managers.

The acquisition further extends Defaqto’s industry-leading portfolio of ratings and reviews for financial services and investment professionals.

Matt Timmins, Joint CEO of Fintel, commented:

“Our positive trading momentum has continued into the second half, with continued growth in SaaS and Subscriptions revenues, supported by our resilient, diversified revenue base.

“VouchedFor and AKG are two market leading businesses which are highly complementary to our offering and share our vision. VouchedFor is the UK’s standard bearer for Trusted Advice while AKG has been at the forefront of financial strength ratings and consultancy for over 20 years. Both have strong adjacencies in terms of our capabilities and customers, and we look forward to further developing their compelling growth prospects.

“We continue to deliver growth organically and make progress consolidating the fragmented software market, providing efficiencies for advisers and creating better outcomes for all participants. With a strong M&A pipeline, underpinned by our balance sheet and cash position, we are confident in making further strategic progress.”

Neil Stevens, Joint CEO of Fintel, commented:

“VouchedFor is an exceptional business with a very important mission – to increase confidence in, and generate demand for, professional financial advice. We passionately believe in the enormous value of professional advice and will invest in VouchedFor to grow its market reach; ensuring the UK’s standard bearer for trusted advice can serve every advice business in the UK.

“We are delighted that the talented team at VouchedFor shares our vision for the future and we are closely aligned in our mission to promote and enable better connections to professional advice. We will be working with the team to take that mission to the next level in 2024 and further announcements of a groundbreaking new service we’ve developed together will be made in the coming weeks.”

Alex Whitson, Managing Director of VouchedFor, added:

“I am thrilled that we have found a partner who shares our commitment to championing the value of advice – a mission that is crucially important. Our technology makes it easier for advisers to deliver and showcase great client experience, enabling the public to get the help they need. Fintel’s investment will enable us to accelerate our growth, launch more services for advisers, and enhance our client offering. I believe that the combination of Fintel and VouchedFor will be incredibly positive for the entire profession.”

The addition of VouchedFor and AKG mark the latest third and fourth acquisitions by Fintel this year, following the acquisitions of leading learning and development provider, Competent Adviser, and tax efficient investing specialists, Micap completed in July 2023.

The acquisitions are in line with Fintel’s strategy to improve the retail financial services market, promote the value of financial advice and increase consumer confidence and trust.


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