03/08/2023

Fintel plc

("Fintel", the "Company", the "Group" or the "Business")

Fintel and BlackRock strengthen distribution agreement

Fintel (AIM: FNTL), the leading provider of fintech and support services to the UK retail financial services sector, and BlackRock, one of the world's leading asset managers, today announced a key expansion to their strategic distribution agreement.

Under the expanded agreement, BlackRock's MyMap funds will join Fintel's Risk Controlled investment solutions, ensuring that its suite of multi-asset funds become central to the investment process of the thousands of advisers who use its financial planning technology.  

Delivered by SimplyBiz and Defaqto, both part of Fintel, the Risk Controlled investment range is designed to improve both adviser efficiency and consumer outcomes, enabling product manufacturers to cater to consumer preferences and risk profiles by optimally aligning investment solutions to the advice and research processes powered by Defaqto.

The Risk Controlled range streamlines the advice process whilst ensuring that advisers can select from a range of funds developed by a number of product manufacturers which are all managed in line with the investment and risk parameters suitable for advisers' clients.

This is an extension of the Managed Distribution agreement that BlackRock has had in place with Fintel since November 2020, and follows Schroders, Fidelity and Aviva, who have also further aligned their distribution strategies to partner with Fintel.

Neil Stevens, Joint CEO of Fintel, commented:

"We are delighted to extend our Risk Controlled solutions to BlackRock MyMap Funds. It is fantastic to see a world-leading asset manager focussing its fund research and transparency around clear client outcomes, that can be properly and independently analysed by professional advisers using our software. This will deliver better outcomes for all. Our connected research and planning platform is a unique opportunity for asset managers and advisers to tailor portfolios and solutions for clients that ensure ongoing advice suitability is maximised".

Rohan Stewart, Head of UK Wealth and Advisory at BlackRock, commented:

"The MyMap range has been designed to help investors achieve their financial goals through simple, cost-effective funds matched to their risk appetite. By integrating these funds into SimplyBiz's Risk Controlled investment solution, we can help advisers build investment solutions that are suitable for a customer's risk profile. We expect that MyMap will become a core part of many investment propositions and are delighted to be working with Fintel to support financial advisers in delivering better client outcomes."

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Notes to Editors

Fintel is the UK's leading fintech and support services business, combining the largest provider of intermediary business support, SimplyBiz, and the leading research, ratings, and Fintech business, Defaqto.

Fintel provides technology, compliance and regulatory support to thousands of intermediary businesses, data and targeted distribution services to hundreds of product providers and empowers millions of consumers to make better informed financial decisions. We serve our customers through three core divisions:

The Intermediary Services division provides technology, compliance, and regulatory support to thousands of intermediary businesses through a comprehensive membership model. Members include directly authorised IFAs, Wealth Managers and Mortgage Brokers.

The Distribution Channels division delivers market Insight & analysis and targeted distribution strategies to financial institutions and product providers. Clients include major Life & Pension companies, Investment Houses, Banks and Building Societies.

The Fintech and Research division (Defaqto) provides market leading software, financial information and product research to product providers and intermediaries. Defaqto also provides product ratings (Star Ratings) on thousands of financial products. Financial products are expertly reviewed by the Defaqto research team and are compared and rated based on their underlying features & benefits. Defaqto ratings help consumers compare and buy financial products with confidence.

For more information about Fintel, please visit the website: www.wearefintel.com