Aberdeen Asset Management is to acquire discretionary fund manager and platform Parmenion for an undisclosed sum.
The group said the purchase is part of a strategy to grow its Solutions business and become a leader in using financial technology. Parmenion, a member of the Fintech 50 2015, provides risk-graded portfolios to UK financial advisers via a digital platform. The platform has £1.9bn in assets under management and delivers services to more than 900 adviser firms. Following the deal, Parmenion will retain its own identity and remain located in Bristol, but will receive additional investment from Aberdeen to develop and expand its service. It will also be able to draw on Aberdeen's inves...
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