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Tech provider Bravura up for sale


Technology provider Bravura has been put up for sale, Money Marketing understands. It is understood an information memorandum has been circulated seeking potential buyers for the business. It remains unclear at this stage what the asking price would be or who might be interested in acquiring the firm.

A Bravura spokesman says: “Bravura is a privately owned company and does not comment on speculation or rumour.”

Bravura is one of the major technology players in the UK platform market, powering the likes of Nucleus, Ascentric and Fidelity’s FundsNetwork.

However, last July Money Marketing revealed Aviva was looking to ditch the tech provider in favour of FNZ for its adviser platform.

Ascentric has also experienced delays in updating its platform technology.

Platforum head of direct Jeremy Fawcett says: “We’ve seen a significant shift in the platform market towards outsourced technology replacing previously proprietary systems. Bravura is the standout performer in that transition and is set to increase its market share from 4 per cent to 22 per cent of assets under administration on adviser platforms.

“A prospective buyer would be taking on a technology outfit moving at full tilt.”



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There are 4 comments at the moment, we would love to hear your opinion too.

  1. Where should an adviser’s platform due diligence end? With the platform provider? With the outsourced tech provider behind the platform provider? With the potential new owner of the outsourced tech provider behind the platform provider? Is it better to use a platform that has its own proprietary IT system?

    Answers on a post card please.

  2. Totally agree James! Blurred lines.

  3. I first saw a powerpoint presentation for Bravura’s Sonata platform software (the first which Bravura has developed from scratch itself) in 2007 with an expected delivery date in 12 months! Unfortunately, some people fell for that! Meanwhile, Bravura’s Talisman platform software (which they bought from a bankrupt company) chugs along reasonably merrily, even if a bit out of breath these days.

  4. How about SL buys Bravura and Axa Elevate and migrates SL and Axa assets from FNZ? Finally free of the platform software provider they struggle to cooperate with and take a chunk of business in the process? Two fingers up! SL finally in control of the underlying software- something they must have always wanted.

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