Investment data hub Finio is now processing £40bn of assets under management on behalf of investment platforms, intermediaries and solutions providers.
The hub was launched by Sprint Enterprise Technology just 18 months ago.
This week it announced the integration of Finio with third-party solution providers Moneyinfo, Plannr, and Adviser Cloud, bringing its total to 10.
On the investment platforms side, Sprint has already onboarded four major players, including Novia Financial, Wealthtime, Raymond James and 7IM. The company also confirms it is in active discussions with other investment platforms.
Robin Bevan, CEO of Sprint Enterprise, said: "In an industry that now recognises the importance of seamless integration, the challenge of managing integrations has grown exponentially.
"More and more advice firms require granular, transaction-level data to meet regulatory and client needs but building and maintaining multiple connections has become a formidable burden for all stakeholders, as the complexity and volume of data increases.
"The Finio data hub simplifies this process, shifting the onus from managing numerous point-to-point connections to a single integration with the hub. We handle the heavy lifting, ensuring the smooth flow of accurate investment data.
"In essence, we are facilitating connections between investment platforms and software providers, streamlining the exchange of investment data – which is a must have for the advice process and a key touchstone for the advice industry going forward.”
Last month Sprint won the Best Use of Platform Technology award at the Schroders UK Platform Awards for a second consecutive year for its partnership with 7IM.
The move was welcomed by the bosses of the new three companies who praised the system and said it would make things easier for the users of the software and their end clients.
Tessa Lee, managing director of Moneyinfo added: “The move to integrate with Finio was an easy decision. Put simply, providing enhanced, good quality data in an efficient and integrated way is becoming a key requirement for the more forward thinking advisers – it’s increasingly how they tell us they want and need to do business.
"We are therefore delighted to be among the first solutions providers to adopt Sprint’s data hub, as it helps us open up and enhance advisers' digital offer to the people who matter most – the end clients.”
tara.o'connor@ft.com
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