Edinburgh-based investment giant Abrdn said on Friday it has acquired the “investing insights” and personal finance news platform Finimize.
Finimize CEO Max Rofagha will join Abrdn’s leadership team in an unspecified role.
Finimize calls itself “the platform for digestible investing insights that help people become a smarter investor in less than 15 minutes a day.”
The Finimize premium subscription is £60 a year and the platform says it “gives people access to exclusive content, community group discussions and events with high profile investors.”
The platform says its free daily newsletter “explains the two biggest stories of the day, in less than 3 minutes, without any jargon.”
It says it “is on a mission to empower people to act as their own financial adviser, by equipping them with the tools and information they need to make informed investment decisions.”
Finimize says it has over one million subscribers to its daily newsletter and around 40,000 premium subscribers.
Abrdn said: “Benefits from the Abrdn group – such as access to its global network of partners, its established research team and its operational infrastructure – will enable Finimize to scale even more rapidly.
“Abrdn will be able to utilise 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.
Abrdn 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 …
“Finimize will maintain its operational independence and Max will join my leadership team to further drive content and customer-driven technology capabilities across Abrdn.
“Its news service, active community and client insight will further assist the transformation of Abrdn into a truly client-led organisation and support a step change in our capabilities.”
Finimize CEO Max Rofagha 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 …
“Fintechs have reduced barriers to entry for retail investors, but there’s a huge demand for accessible high-quality investing information.
“We believe our platform needs to be bite-size, mobile and social to fit modern investors’ busy lives.
“We envisage Finimize will become the most convenient way for people to learn, research and discuss investing.”