Wealthtime has become a fully integrated wealth management firm and rebranded to The Quanta Group, following the acquisition of Craven Street Wealth.

The firm is backed by private equity investor AnaCap, which announced the transformation of its investment in the platform business to a wealth management company.

The newly formed Quanta Group, which is led by CEO Patrick Mill, will maintain operational independence between its key business units.

These include Craven Street Wealth for independent financial advice, Wealthtime for wealth management platform services, and Copia Capital for investment management.

Craven Street Wealth is an independent chartered financial planning and wealth management firm with £2bn in assets under management.

It has experience in acquiring and integrating IFAs, and Quanta Group will use the business to pursue an acquisition strategy in what it feels is a fragmented IFA market.

This strategy will aim to build scale while providing clients with a service offering across advice, platform, and investment management.

In addition to the acquisition and rebrand, Quanta Group has entered a 10-year partnership with Wipro and GBST.

The partnership will aim to deliver a platform service that focuses on the digital experience, combining Wipro’s capabilities in business process outsourcing with GBST’s technology services.

“The launch of the AnaCap-backed The Quanta Group marks a significant milestone and statement of intent as we bring together market-leading capabilities to deliver a next-generation digital-first wealth management platform,” commented AnaCap managing partner, Nassim Cherchali.

“The Quanta Group’s 10-year partnership with Wipro and GBST is very exciting and underscores its continued commitment to innovation.

“The acquisition of Craven Street Wealth further strengthens its position with deep financial planning expertise and extends the service offering capabilities for The Quanta Group’s client base.

“We are excited to offer all clients under The Quanta Group umbrella a seamless, technology-driven experience.”

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