Defaqto has agreed a deal to conditionally acquire RSMR as part of a move to extend its fund research and ratings capabilities for financial services and investment professionals.

The acquisition remains subject to regulatory approval.

Defaqto, part of Fintel, provides independent ratings and reviews for IFAs, wealth managers and paraplanners, covering risk, performance, functionality, service, ESG and Consumer Duty.

The group’s acquisition of RSMR extends these capabilities to include the research and ratings of the strategy fund solutions across the UK.

The deal will also extend access to Fintel’s adviser client base and draw on resources from across Fintel to accelerate the distribution of RSMR’s proposition, both within the sectors that it currently operates and adjacent areas, helping more advisers and their clients to benefit from RSMR’s fund research.

“Defaqto is rapidly expanding through a combination of organic growth and acquiring some of the most highly regarded businesses that have clear adjacencies in terms of capabilities and customers,” CEO at Defaqto, John Milliken, said.

“Last year, we added AKG and MICAP to the business and they have already made significant contributions to the growth of Defaqto. RSMR is another strategically important acquisition, adding industry expertise, insight and data that is complementary to Defaqto’s.

“We look forward to working with the talented team at RSMR to invest in the business and make it an even greater success in the future.”

RSMR CEO, Ken Rayner, commented: “We are absolutely delighted to become a part of Defaqto and Fintel. Joining together with Fintel will allow us to promote our services to a much broader base through the group’s complementary businesses and leading brands.

“We look forward to bolstering our existing team with the additional resources and scale that Fintel will bring.”

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