The investment was approved at an Extraordinary General Meeting last week.
The multi million pound investment, made by leading City institutions, Friends Provident and HBOS Financial Services, has valued the company at £109 million. In addition to this investment, Prudential has also backed the company with a multi-million pound financial support package that will assist the company’s continued growth as it revolutionises the way we buy our financial services.
Group chief executive, Simon Chamberlain, said, “Thinc Destini has been going from strength to strength during the last four years and this investment, into the newly merged company, demonstrates our strong standing in the financial services industry.
We are unique and we have the model, the infrastructure and the personnel in place to change and modernise the way we buy financial services in the UK. We create true embedded value and maintain ownership of our client base in a way that traditional IFA businesses do not.”
The Thinc Destini unique proposition is based upon providing clients with a ‘one stop shop’ access to relevant products and services, which are charged according to their individual needs at a particular time in their life.
Thinc Destini, unlike any other IFA Network or national company maintains ownership of the funds under management
and by retaining that income creates true added value for shareholders and the consumer.
Chamberlain added, “This is a model that the industry is excited about and which clearly represents the future of distribution in the UK. This is why we have attracted significant interest and financial investment from major players who are excited by
our business. We have successfully developed our model during the last four years, taking into account depolarisation and the fact that clients need different services at different times and often need to see specialists.”
- Top ten multi distribution channel attracts multi million investment
- Company valued at £109 million
-Set to revolutionise the way we buy our financial services in the future
- Turnover hits £45 million
