Wrap platform Transact has acquired a 15% stake in adviser technology business Sprint Enterprise Technology, operator of adviser software system Fastrak.
Transact's parent - Integrated Financial Holdings (IFH) - completed the deal this week, the group said today. The deal will enable Sprint to invest further in Fastrak, which has already proved popular among many paraplanners. The cloud-based technology solution aggregates investment data from across wrap platforms and non-platform assets, as well as from back office and fund providers. Under the arrangement, Jonathan Gunby, chief development officer at Transact, will also join Sprint's Board. Christopher Willmott, CEO of Sprint, said, "IHL has recognised how we will be able to b...
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