The owner of wrap platform Transact, Integrated Financial Holdings, has taken a 15 per cent stake in wealth management technology company Sprint Enterprise Technology.
The groups said the investment would enable Sprint to continue developing its Fastrak system, a cloud-based technology which aggregates investment data from across wrap platforms and non-platform assets, back office and fund providers.
Christopher Willmott, chief executive of Sprint, said, “The investment underscores the credibility of our proposition and the potential for growth in our business. It will help us to remain at the cutting edge of innovation, delivering tangible benefits to our clients, without compromising our independence.”
Transact’s chief development officer Jonathan Gunby would join Sprint’s board.