Fintel Acquires AKG: A New Chapter in Financial Services Rating and Review

Published 6 months ago

Fintel, the industry-leading portfolio of ratings and reviews for financial services and investment professionals, has made a significant acquisition of AKG. The deal aims to further extend Fintel’s reach in the market, offering a wider range of services to more than 10,000 advisers.

AKG: The Market Leader in Financial Strength Rating

AKG is well-known for its provision of independent assessments and ratings of financial strength for various entities, including life companies, investment platforms, and discretionary fund managers in the UK. Their ratings and reports are made accessible to advisers and clients via advice technology, provider channels, and the AKG portal itself. This acquisition will extend AKG’s reach, serving more advisers under Fintel’s umbrella.

Strengthening Defaqto’s Position in the Market

The acquisition will also allow Defaqto, owned by Fintel, to expand its relationships within the investment management and financial advice communities. Defaqto currently offers independent, expert ratings and reviews that cover risk, performance, functionality, service, ESG, and the Consumer Duty. The acquisition will expand these capabilities to include the rating and review of the financial strength of financial product providers. Defaqto plans to invest in AKG and use Fintel’s resources to accelerate the distribution of its proposition, providing clear, concise insights about financial strength and Consumer Duty responsibilities.

CEO Reactions: A Perfect Extension

Matt Timmins, Joint CEO at Fintel, sees the acquisition as a perfect extension to the Fintel tech and services platform. He believes AKG’s position at the forefront of financial strength ratings and consultancy will be a valuable addition, helping thousands of advisers provide professional financial advice to millions of consumers.

John Milliken, CEO of Defaqto, views the acquisition as strategically significant, adding industry expertise, insight, and data complementary to Defaqto’s. He looks forward to working with the AKG team to invest in the business and make it an even greater success, enabling more people to make smarter financial decisions.

A Welcome Addition to the Fintel Family

Guy Vanner, MD at AKG, expressed his delight at becoming part of the Fintel family. He emphasized AKG’s specialized company assessment work over the past 30 years and its association with the assessment of operational financial strength from the perspective of end customers. He looks forward to expanding the delivery of AKG’s existing and new ratings and reviews to new and existing customers with the assistance of Defaqto and within the broader Fintel group.