Fintel (FNTL ) has expanded its managed distribution service to include the US investment firm, Invesco; the British restaurant, Hawksmoor; and the insurance company, Royal London.
Today, the UK-based company Fintel, formerly SimplyBiz Group, said these aforementioned businesses were the latest partners to commit to multi-year agreements for the firm’s service.
To date, 20 partners have converted to the managed distribution service, including brands such as Fidelity, Aviva, Just, Guardian, Schroders, BMO, Premier Miton and Carmignac.
In 2021, a ‘first-of-its-kind partnership’ with Aviva and Aviva Investors was announced with Aviva Investors to develop a new sustainable retirement solution in partnership with Fintel, aligning product design to Defaqto’s income drawdown tool and ESG specifications.
This expansion of the offering has continued in 2022 with Royal London, a Simply Protect partner, also converting to a subscription based managed distribution agreement.
Introduced in early 2021, Fintel’s Managed Distribution Service is a subscription-based service that includes research, data, product design and distribution services.
By using segmental and behavioural insights combined with access to strategic consultancy and regulatory expertise, product providers are able to develop tailored propositions and iterate existing ones, distributing them via financial intermediaries, Fintel told investors.
Delivered by SimplyBiz and Defaqto, businesses that sit within Fintel, the solution is also designed to enhance the services provided to intermediary member firms, it explained.
It said partnerships help providers to focus their outreach to intermediaries ‘through the most effective channels whilst ensuring consumers receive products better aligned to their needs.’
Commenting on the expanded network, Matt Timmins, Joint CEO of Fintel, told investors: “Fintel exists to help the market operate more effectively. As an industry connector we improve and simplify this complex market, ultimately achieving better outcomes for all.”
Timmins highlighted that the progress made in the service’s roll-out evidenced Fintel’s focus on combining expertise with data driven services - ‘as well as its successful response to rapidly changing client requirements, which continue to enhance the quality of its earnings.’
He added: “To have more renowned and respected brands further strengthening our relationship and choosing to work with us in this way is a fantastic start to 2022.”
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