RL360 announces deal to acquire Ardan International platform business
The RL360 Group has entered into an agreement to purchase the international platform business Ardan International, subject to regulatory approval
RL360 has a strong track record of supporting the Investment Platform – or Wrap – model, it is intended that Ardan International will continue to operate under the Ardan brand and will operate independently of RL360 Life Insurance Company Limited post completion.
Ardan International was the first independent wealth platform designed exclusively for the international market, and was purchased by Rowan Dartington in 2014. It provides a full–service platform for the international adviser community, which includes research tools, dealing, custody and client administration.
David Kneeshaw, Chief Executive of RL360, said: "I am delighted to welcome Ardan International to the RL360 Group. We have made no secret of the fact that pursuing acquisitions forms part of RL360's strategy to build scale and support our growth plans. We believe Ardan International presents a significant and attractive opportunity to accelerate this objective.
"I believe having a truly independent and internationally focussed platform within the RL360 Group makes strategic sense. Platforms will play an increasingly important role in international distribution, for example in providing a mechanism to help providers devise and deliver new propositions to the market. Platforms can also give Advisers options as they seek to transition away from an initial commission remuneration model. We strongly believe this is the way the industry – and regulation – is moving."
Richard Preston, CEO of Ardan International, said: "With RL360 we will have the backing of a major institution and our adviser community will benefit from continued investment in our award–winning platform service – we plan to stay ahead of the game. We will also benefit from RL360's market insight and distribution channels. This is a very exciting time for us."
About Ardan International
Ardan International is a global open architecture wealth platform dedicated to international advisers that places them at the centre of their clients' investment management.
Ardan International offers a full service wealth platform, operating 24/7 from the Isle of Man. It brings advisers and their clients research, third party DFM facilities, dealing, settlement, custody, reporting and client administration into over 70,000 funds and securities, through multiple third party life and pension wrappers. This enables advisers to focus on their clients, building their business and their revenue.
Ardan won 'best international platform' at the 2016 International Fund & Product Awards.