UK asset manager abrdn has taken a further step in the development of its digital business after completing the acquisition of investment platform Finimize.

The platform charges users a £60 annual subscription for investment tips and has over 1 million subscribers to its daily newsletter. No financial details of the deal were disclosed.

Finimize will continue to operate under its own independent brand but the acquisition will provide another means for abrdn to target the wealthtech sector and the increasing number of retail investors looking for digital services.

Abrdn’s CEO Stephen Bird stated that the acquisition “further supports our strategic ambition to deliver client-led growth through enabling our clients to be better investors”.

Since taking over the firm in June 2020, Bird has looked to develop its digital brand. This included changing the company name from Standard Life Aberdeen to abrdn.

And in August it acquired Exo Investing, the b2c digital wealth management arm of software firm Nucoro, with the intention of launching a wealth management app.

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