Fintel plc (LON:FNTL), a provider of fintech and support services to the UK retail financial services sector, today announced that it has conditionally agreed to acquire Rayner Spencer Mills Research Limited (RSMR), a fund ratings and research agency.

Fintel will acquire RSMR via Defaqto, a provider of financial information, ratings and fintech, further extending its fund research and ratings capabilities for financial services and investment professionals.

The acquisition is expected to complete in the coming months, subject to regulatory approval.

The deal is in line with Fintel’s strategy to expand into adjacent markets, adding scale, IP and quality data sets to help the market understand and improve the suitability of financial products. RSMR will be the ninth business acquired by Fintel over the past twelve months, joining AKG, VouchedFor, Competent Adviser, Micap, Synaptic, Owen James, ifaDASH and threesixty on its expanded service and technology platform.

Matt Timmins, Joint CEO of Fintel, commented:

“RSMR’s fund ratings and portfolios are trusted by over 15,000 advisers across the UK. Utilising a rigorous research methodology, their ratings are a badge of quality, due diligence and reputation. RSMR is another strategically important acquisition, adding industry expertise, insight and data that is complementary to Defaqto’s.

“I have worked with Ken, Geoff and the team at RSMR for a long time and hugely admire their research methodology, independence and dedication to the market. Their history, pedigree and ambition will add significantly to our business and I am delighted that RSMR have chosen Defaqto and Fintel to support the next stage of their growth.”