Thinc Destini has been valued at 109m following a multi-million pound investment by financial services insititutions, including Friends Provident and HBOS.
Prudential has also backed the firm by providing a financial support package which Thinc Destini says will “revolutionise the way we buy our financial services.”
Annual turnover is currently at 45m.
Thinc Destini group chief executive Simon Chamberlain says: “Thinc Destini has been going from strength to strength during the last four years and this investment, into the newly merged company, demonstrates our strong standing in the financial services industry.
We are unique and we have the model, the infrastructure and the personnel in place to change and modernise the way we buy financial services in the UK. We create true embedded value and maintain ownership of our client base in a way that traditional IFA businesses do not.