Abrdn acquires digital ‘tips’ platform Finimize
Stephen Bird: focusing the company
Abrdn, formerly Standard Life Aberdeen, has confirmed speculation that it is acquiring Finimize, a digital platform which offers investment tips.
Finimize has more than 1 million subscribers to its daily newsletter and around 40,000 premium subscribers.
Access to Abrdn’s global network, research team and its operational infrastructure will enable Finimize to scale more rapidly.
Abrdn will have use of Finimize’s unique content delivery technology, editorial and content skills as well as insights into its highly engaged investor community.
Finimize will continue to operate as an independent brand and insights platform. Its CEO Max Rofagha will join abrdn’s leadership team.
It is his second start-up venture and Abrdn said he will “use his entrepreneurial acumen to help accelerate a culture of innovation within the company.”
Mr Rofagha, CEO of Finimize, said: “In a world where technology has largely removed the friction from investing, information is king.
“There’s been huge amounts of innovation in the brokerage space, but very little when it comes to information. We’re excited to be at the forefront of changing this with the backing of a major financial institution that shares our vision.”
Abdrn CEO Stephen Bird said: “The acquisition of Finimize by abrdn further supports our strategic ambition to deliver client-led growth through enabling our clients to be better investors. Finimize’s vision to empower smarter investors is a perfect fit for the group.”
The move is seen as reinforcing the ambitions of Mr Bird to build a more focused investment management group with far stronger digital capabilities for personal and institutional clients.