Wealthtime has been acquired by AnaCap Financial Partners.

The Salisbury firm which delivers efficiencies and analytics to financial advisers has been snapped up by the specialist European financial services private equity firm.

Founded in 2006, Wealthtime has more than €2 billion assets under administration.

The investment signals the start of a planned series of strategic partnerships and bolt-on acquisitions in the UK.

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Nassim Cherchali, Managing Director at AnaCap, commented: “The acquisition of Wealthtime represents AnaCap’s first step into the UK wealth management space, with their highly impressive proprietary technology platform being a significant catalyst for the pursuit of this deal.

“Wealthtime is widely recognised in the IFA community for its high-quality service offering, while already showcasing an impressive customer base that has largely been established through word of mouth alone to date.

“We are very excited to implement the first stage of our plan to invest in the Company’s sales and distribution platform as well as to work with management in implementing the targeted buy and build strategy for 2020 and beyond.”