The private equity owner of platforms Novia Financial and Wealthtime revealed that the two businesses will be unified under the Wealthtime group brand.
The decision follows a strategic review of Novia by AnaCap in May 2021, after acquiring the company in December 2020. It did not buy the international arm, which continues to operate under the Novia Global brand name.
Wealthtime was purchased by the PE firm in February 2020.
The rebrand will take place in the second half of 2022, and both platforms will be led by chief executive Patrick Mill and his executive team.
He said: “Since the acquisition of the Amber, Wealthtime and Novia platforms by AnaCap, our business has undergone a transformation, building on the strong foundations that were already in place across the group.
“We have been preparing the ground to position the group for what we believe is a third era for platforms, differentiating on true digitisation and deeper connectivity. These next-generation platforms will bring superior, adviser-centred technology and customisation to the market.
“The change the business has undergone recognises this shifting landscape and the rebrand signals our intent to be in the vanguard by enabling firms to construct their technology stack as they see fit, not as platforms dictate.
“As a group, we’re in great shape. We’re fully committed to the advised platform market and to continuing to invest in our people, our service, and our technology. We’re bringing together the two services under one group name and believe that a unified brand will allow us to have a greater impact in what is an ever-evolving market and help ensure we provide advisers and their clients with the very best proposition and outcomes for years to come.”
