AnaCap-backed platform Wealthtime becomes a fully integrated wealth manager, and rebrands to The Quanta Group, following the acquisition of Craven Street Wealth
AnaCap, a market-leading private equity investor specialising in partnering with founders and entrepreneurial management teams across services, technology and software within the European financial ecosystem, today announces the successful transformation of its investment in platform business Wealthtime to a fully integrated wealth manager, under the new brand The Quanta Group, following the acquisition of Craven Street Wealth.
Craven Street Wealth is an independent chartered financial planning and wealth management firm with £2bn Assets under Management (“AuM”) and a strong presence across London and southern England. Craven Street Wealth has a proven track record of acquiring and integrating IFAs, having completed 3 deals in the past 4 years. The Quanta Group will use Craven Street Wealth as a platform to pursue an acquisition strategy in the fragmented IFA market. This will continue to build scale while also providing customers with a full holistic offering across Advice, Platform, and Investment Management.
The newly formed Quanta Group, led by CEO Patrick Mill, will maintain operational independence between its key business units. This includes Craven Street Wealth for independent financial advice, Wealthtime for wealth management platform services and Investment Management through Copia Capital.
Additionally, the Quanta Group has also secured a landmark 10-year partnership with Wipro, a global technology services leader, and GBST, their technology partner. This collaboration puts customers at the heart of platform service delivery, focusing on creating a seamless, intuitive and personalised digital experience. The partnership combines Wipro’s expertise in Business Process Outsourcing (“BPO”) for streamlined operations with GBST’s advanced technology services, facilitating clients to receive a best-in-class service through an enhanced user-friendly platform.
Nassim Cherchali, Managing Partner at AnaCap, commented:
“The launch of the AnaCap-backed The Quanta Group marks a significant milestone and statement of intent as we bring together market-leading capabilities to deliver a next-generation digital-first wealth management platform. The Quanta Group’s 10-year partnership with Wipro and GBST is very exciting and underscores its continued commitment to innovation. The acquisition of Craven Street Wealth further strengthens its position with deep financial planning expertise and extends the service offering capabilities for The Quanta Group’s client base. We are excited to offer all clients under The Quanta Group umbrella a seamless, technology-driven experience.”
Rob Massey, Partner at AnaCap, continued:
“With the successful acquisition of Craven Street Wealth, The Quanta Group is now in a position to offer customers the full suite of wealth management services from advice through to investment management, supporting organic growth across all arms of the business. The Quanta Group is also well placed to continue consolidation within the UK IFA market, which remains highly fragmented. The team at Craven Street Wealth bring a huge amount of experience and expertise, along with a proven track record of acquisition and integration, providing the strong foundation for future expansion. We are thrilled to have Tom Barnett and the wider team join the Group and are excited about the road ahead.”