FNZ, the global wealth management platform, is acquiring International Fund Services & Asset Management (IFSAM), a Luxembourg-based B2B fund platform.

The acquisition will strengthen FNZ’s global client proposition for both asset managers and distributors, adding advanced product, research, data and service solutions to its existing end-to-end wealth management platform.

FNZ, which has a key hub in Edinburgh, says clients and distribution partners will benefit from broadened access to service alternative asset classes, as well as improving efficiencies across the wealth management value chain.

The acquisition of IFSAM further scales FNZ’s continental European operations into Luxembourg which is the largest fund centre in Europe.

It will form FNZ’s centre of excellence for fund distribution and custody services in Europe and further enhance FNZ’s suite of digital solutions and services for the wealth management sector and asset management companies.

FNZ has about 6,000 employees in 21 countries. It partners with more than 650 of the world’s financial institutions and more than 8,000 wealth management firms.