Invesco has assured advisers that it will not interfere with the open architecture of Intelliflo, following its purchase of the back office tech provider.
The sale of Intelliflo to the global investment management giant by owners HgCapital was announced this morning.
Advisers use Intelliflo's flagship Intelligent Office product for tasks such as client relationship management, client reporting, portfolio valuation and adviser-led automated advice.
Invesco intends to ensure the service continues as seamlessly as possible, head of UK retail distribution Chris Lyes told New Model Adviser®.
He said: 'The support of a large global firm, and that level of infrastructure being brought to a smaller firm, should bring some comfort to clients. For us, it’s about making sure we continue to deliver that excellent service that they have always got from Intelliflo and ensuring a seamless transition.
'We are not in any way going to interfere with the open architecture that Intelliflo has, so advisers will still be able to access everything they currently access, in terms of investment products, other fund managers, platforms - we will not do anything to interfere with that.'
Lyes pointed to Invesco's acquisition of US adviser tech provider Jemstep as a blueprint for its partnership with Intelliflo, highlighting that the move focuses on how Invesco can improve its offering to its existing client base and investors.
He added: 'The growth that they’ve had over the last five to six years has been phenomenal. This is built off the quality of their business, both the technology and the service that they provide, and the quality of the team they’ve got, helping advisers really get the most out of the system. For us, they are by some distance the leaders in that space.'
Lyes also suggested that many global fund firms are looking to enhance their service through technology.
He said: 'We are really excited about the way that we have done it, and I think we have found a firm that is offering something really different, the rate of innovation and the way they see themselves and apply themselves is going to be really additive to us. I am sure we are going to see more investment in technology by fund management firms.'
In an email to advisers this morning, Intelliflo executive chairman Nick Eatock said Invesco's 'financial muscle' would enable Intelliflo to invest heavily in R&D and accelerate improvements to its capabilities, after advisers were given the opportunity to vote on which developments to prioritise.
Intelliflo also highlighted that the acquisition opens up opportunities to expand overseas.
Eatock explained: 'As a single instance SaaS provider, this ensures that all developments in an increasingly global marketplace will be available in your version of iO. Alongside our unique iO Store, there will be an even wider range of partner products available to you.
'For our customers with international operations or international aspirations, this deal will mean that we are able to provide our technology across a wider range of countries.'