Swiss financial data company FE fundinfo has acquired Contengo, a UK-based wealth technology company, for an undisclosed sum.
Contengo’s technology is designed to gather transaction and client information from adviser platforms and back-office systems.
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The acquisition allows FE fundinfo to incorporate Contengo’s technology into its Nexus platform, introducing a new feature referred to as the command deck.
Through the integration, FE fundinfo aims to enhance its platform’s data collection and aggregation capabilities.
This integration will allow financial advisers to access data-driven insights to support their decision-making processes and manage their operations.
The new command deck feature is said to enable advisers to deliver financial advice based on up-to-date information.
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By GlobalDataIt will also offer money-weighted performance analysis using artificial intelligence.
Licensed users of the company’s FE Analytics tool can monitor portfolio performance in real time and compare portfolios to simulated alternatives.
Also, the new feature allows them to conduct outcome analysis to demonstrate compliance with consumer duty regulations.
FE fundinfo chief executive Liam Healy said: “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.”
The command deck feature will provide advisers with access to fee data, cost monitoring tools, and enhanced transparency in client reporting.
It enables advisers to deliver financial plans with current valuations and transaction histories, reducing the need for manual data entry and minimising the risk of errors.
Also, advisers can conduct scenario modelling instantly, based on live data.
In September last year, FE fundinfo introduced an updated Factsheet Production solution to streamline factsheet creation and delivery to the FE fundinfo network.
