View more on these topics

FNZ takes stake in Embark

Platform technology firm FNZ will become a minority stakeholder in Embark Group, the companies announced today.

Embark is the parent company of Sipp providers Rowanmoor and Hornbuckle, fund research business The Adviser Centre, as well as offering The Embark platform.

FNZ’s holding will be 9 per cent and will be handed via a small right issue.

The firms say in a statement that the investment will promote the growth of Embark’s business. FNZ will not have any operational involvement, control, or oversight, Embark says.

FNZ and Embark will also extend their five-year partnership for FNZ to run the technology behind the Embark platform for another ten years.

The companies said the partnership will bring together Embark’s retirement and distribution expertise and FNZ’s scalability and technology.

In 2017, Embark launched an investment wrap platform for financial advisers, which is powered by the FNZ technology. 

Exclusive: Coutts launches digital Sipp with Embark

Embark Group chief executive Phil Smith says: “[FNZ’s] support has enabled us to put platform solutions behind large parts of the ‘robo’ and retail banking markets for pensions, whilst also facilitating our competitive disruption of the IFA wrap space.

FNZ chief executive Adrian Durham says: “We contracted in late 2013 with Embark when they were a small start-up player. We liked their ambition in the key retirement space and how they saw the platform market developing.

“Today they have over £15bn in assets under management, much of which sits on our technology. They have solid distribution relationships and the right proposition for the UK market, and we believe will emerge as long-term winners in a competitive sector.

“They are one of the growth engines of FNZ, but moreover a great partner in the ongoing development of our digital footprint and services to the wider market.”

Recommended

Appeal-Court-High-Court-Building--700x450.jpg

State pension court showdown set for summer

A judicial review about changes to the state pension age for millions of women born in the 1950s will take place from 5 to 6 June. The Department for Work and Pensions has confirmed that last November’s decision by the High Court to grant permission for a judicial review will go ahead in the summer. […]

4

Collapsed DFM’s administration bill nears £2m

Fees for administrators handling the collapse of discretionary fund manager Strand Capital are approaching £2m, the administrators’ latest report reveals. The document shows that the two firms working to return clients’ investments – Smith & Williamson and LA Business Recovery – have now racked up 4,709 hours on the project, at a total cost of […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com