Defaqto acquires MICAP to lead the market in tax-advantaged investment products
- Extending Defaqto's reach into tax-advantaged products
- Expanding and deepening relationships within investment management and financial advice communities
- Helping more IFAs select the most suitable tax-advantaged investment products for their clients
Defaqto has acquired MICAP from Indagate Group to extend its reach from multi-asset, single strategy and MPS investment products into tax-advantaged products.
MICAP is the recognised market leader in the provision of independent research and advice tools on tax-advantaged products. It provides a platform that links together over 1,000 IFA firms to a range of Venture Capitalist Trusts, Enterprise Investment Schemes, Seed Enterprise Investment Schemes and Business Relief products, accompanied with clear, independent information, digital application forms and post-investment consolidated reporting.
This acquisition enables Defaqto to expand and deepen relationships within both the investment management and financial advice communities, adding enhanced scale and IP to the business. It will also draw on resources from across Fintel Plc to improve product design and distribution in this area of the market, thereby helping more IFAs select the most suitable tax-advantaged investment products for their clients, enhancing outcomes.
Commenting on the purchase, John Milliken, CEO at Defaqto, said: “It is great to be able to extend our proposition into a new area of the investment market. There is strong adjacency in terms of products and customers and strong cultural alignment, which makes this an excellent fit for both organisations. Working with the industry we have raised the bar for Defaqto Engage every year, delivering better features and improving value for over 30% of the adviser market. We have been impressed with the quality of MICAP’s proposition and with the acquisition we look forward to building new relationships and investing further in supporting IFAs across the financial planning process.”
Guy Tolhurst, CEO at Indagate Group, said: “We are delighted MICAP will become a part of Defaqto. They have some of the most comprehensive data, mission-critical technology and unrivalled understanding of financial planners’ needs in the industry. MICAP is already the market leader in servicing financial advisers with independent research, consolidated reporting and digital applications on the tax-advantaged market, and we can now utilise Defaqto’s resources and know-how to the benefit of our client base.”