FE FundInfo acquires CashCalc

FE FundInfo acquires CashCalc

FE FundInfo has acquired cashflow planning provider CashCalc.

CashCalc will continue to be offered as a stand-alone product, though FE FundInfo said it will invest significantly in the integration of the provider’s platform and back-office services.

Founded by advisers in Newport in 2014, CashCalc has quickly established itself as one of the main planning and forecast tools for IFAs in the UK.

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In October 2020, CashCalc had a 45 per cent marketshare among advisers using cashflow modelling tools, according to data from Nextwealth. 

FE FundInfo was formed from the merger of FE, FundInfo and F2C in 2017, and provides investment research and portfolio services to IFAs, including FE Analytics.

Ray Adams, director and founder of CashCalc, said: “Cashflow planning is a key component of an adviser’s process and, perhaps even more so during the course of the pandemic, it became an essential service for many advice businesses, as they sought to help their clients throughout the market volatility by providing digital services and sound financial planning advice. 

“By aligning our services with FE FundInfo’s own market-leading investment tools, such as FE Analytics, we will be able to support our clients by offering a more complete journey and a seamless process.”

Hamish Purdey, chief executive at FE FundInfo, added: “We have been extremely impressed with CashCalc’s client-centric approach that matches our own, and its value to the industry at large.

"Integrating CashCalc’s market-leading services with our own award-winning tools marks a natural product extension and will lead to better advice outcomes for advisers and their clients.”

Ian McKenna, founder and director of the Finance Technology Research Centre, also welcomed the news.

He said: “The fit between these two organisations is excellent. FE Fundinfo are a hugely respected research supplier to advisers, institutions and via their Trustnet service consumers. 

“Cashcalc has built an excellent reputation for building easy to use software and continually adding new features.”

In June last year, FE FundInfo launched a fund dashboard in a bid to help advisers assess a fund’s ability to meet their clients’ needs.