Novia and Wealthtime are to be rebranded under the group name Wealthtime.
Both platforms are owned by Anacap. Novia was purchased by Anacap last year, while Wealthtime was acquired in 2020.
Novia and Wealthtime will not be merged, but Novia’s technology may be migrated over to Wealthtime.
Chief executive of Novia, Patrick Mill said: “Since the acquisition of the Amber, Wealthtime and Novia platforms by Anacap, our business has undergone a transformation, building on the strong foundations that were already in place across the group.
“We have been preparing the ground to position the group for what we believe is a third era for platforms, differentiating on true digitisation and deeper connectivity. These next-generation platforms will bring superior, adviser-centred technology and customisation to the market.
“The change the business has undergone recognises this shifting landscape and the rebrand signals our intent to be in the vanguard by enabling firms to construct their technology stack as they see fit, not as platforms dictate.”
Mr Mill anticipates rapid changes in the platform industry over the next few years and is determined to be “flexible enough to adapt and connect to new digital interfaces as adviser technology ecosystems expand to accommodate ever-evolving adviser and customer needs”.
“As a group, we’re in great shape. We’re fully committed to the advised platform market and to continuing to invest in our people, our service, and our technology.
“We’re bringing together the two services under one group name and believe that a unified brand will allow us to have a greater impact in what is an ever-evolving market and help ensure we provide advisers and their clients with the very best proposition and outcomes for years to come.”
To discuss the market for potential acquisitions, speak with our Senior Broker Gwill Evans and click here.