UK-based wealth technology provider Contengo has been acquired by FE Fundinfo for an undisclosed sum.

Contengo, which provides performance reporting, wealth analytics, and data migration to independent financial advisers (IFA), will see its solutions integrated into FE Fundinfo’s Nexus platform.

The integration will form part of a new ‘Command Deck’, which aims to enable advisers to deliver bespoke financial advice quickly and accurately.

FE Fundinfo said the acquisition would see it expand its reach across UK wealth management platforms and improve its value proposition for clients to access and process transaction data.

Contengo’s data engine collates transaction and client data from adviser platforms and back office systems into a control module, allowing advisers to make data-driven decisions.

Through the integration, Nexus for Financial Advisers will connect underlying workflows with business and client data across the IFA value chain, looking to provide an integrated client service to its IFA clients and providing them with an advice Command Deck.

FE Fundinfo said the move underscored its commitment to streamlining advice delivery for financial advisers, improving operational efficiency, and strengthening adviser/client relationships.

The integration of Contengo into Nexus for Financial Advisers will also see advisers being provided with AI-powered, money-weighted performance insights, being able to deliver more accurate real-time financial plans, monitor live portfolio performance, and enhance transparency and client reporting.

“Contengo’s performance reporting and data validation tools are a natural extension for Nexus and will bring substantial value to our adviser clients,” commented FE Fundinfo chief executive officer, Liam Healy.

"This acquisition underscores our commitment to providing IFAs with a unified, data-rich experience that drives better outcomes for their clients and streamlines day-to-day operations.

"We’re thrilled to have Contengo as part of FE fundinfo, and look forward to how it will help Nexus for Financial Advisers connect underlying workflows and both business and customer data across the IFA value chain, bringing a central Command Deck and integrated client service to financial advisers.”

Contengo founder and CEO, Louisa Southey, added: “Joining forces with FE fundinfo represents an exciting new chapter for Contengo.

“Our shared vision of leveraging technology to empower financial advisers means our clients will benefit from enhanced capabilities, deeper data insights and a seamless user experience across all of the adviser capabilities that Nexus has to offer.

"We’re looking forward to how we can continue to innovate across the adviser space, and we’re excited about the possibilities for Contengo in this new form.”

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