Update: Invesco buys advisory tech firm Intelliflo

Previously owned by European private equity investor

Invesco has bought financial adviser technology provider Intelliflo for an undisclosed fee.

The back office provider has been owned by European private equity investor HgCapital since 2013. Intelliflo offers its back office Intelligent Office (iO) software and supports around 30% of UK advisers and 19,000 investment professionals through its technologies. Speaking to Investment Week, Chris Lyes, head of retail distribution at Invesco, said the group will take Intelliflo's technology into "new markets across the globe", such as the US, but largely the firm will operate as a "stand-alone business". "Intelliflo is very well run, it is a great innovator and its growth has dem...