A range of acquisitions has helped Fintel "complete the jigsaw" and become a "one-stop shop" for advisers.
The firm published its 2023 results this morning (February 19) and bosses said mergers and acquisitions will continue to be a key part of its strategy for growth.
It has already bought two companies this year, following the four it snapped up in 2023.
Joint CEO Matt Timmins said: “We have delivered strong financial results and also continued to grow the business through a combination of organic growth and M&A.
“M&A helps us continue to deliver important services for intermediaries and organic growth is across all three divisions within the business.
“M&A will continue to be a part of the story, but it's not the full story. Continuing organic growth and continuing to deliver enhanced services to intermediaries is our primary.”
Core revenue across the business was up slightly to £56.6mn, up from £56.4mn in 2022.
While adjusted for Ebitda growth rose 5.6 per cent from £19.4mn in 2022 to £20.5mn last year.
And Core SaaS and subscription revenue was up 2.2 per cent to £37.6mn, from £36.8mn.
The 2023 results set out support packages provided to advisers in 2023 to help with the roll out of consumer duty.
This included consumer duty profiles in Defaqto, which it acquired back in 2019.
Joint CEO, Neil Steven, added: “We've seen in January and February, for the first time in 18 months, there's been an increase in the average portfolio size.
“So we're seeing more clients taking more advice and bringing more money to the table. So we think there's three compound drivers of growth to further advice businesses, as we come into 2024.
“All the acquisitions we've made available have helped us complete the jigsaw of making one stop shop, and in terms of consumer duty, that ties us all together.”
Timmins added research carried out by Fintel showed the average intermediary was using between five and nine different pieces of software to give advice to clients.
He added: “Very often that software didn't talk to each other, so one of our stated aims is to make sure that we can provide everything an intermediary firm needs to do the job for their clients.
“That there is a good two way integration between all of the technology components. So that was one of the reasons we bought the businesses that we bought last year.”
tara.o'connor@ft.com
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