Adviser Ratings has used funds from its recent equity raising to acquire boutique CRM business Crinkle Cut Digital.
The company announced the acquisition today noting that Crinkle Cut Digital provided the missing link between businesses onboarding a CRM platform and then harnessing the platform to its full extent.
It said that Crinkle Cut Digital also worked with fund managers on understanding performance of their funds in terms of attracting direct and intermediated investment.
Crinkle Cut partner, Adrian Juergens, will become Adviser Ratings’ customer success manager.
Commenting on the acquisition, Adviser Ratings chief executive, Mark Hoven, said the importance of bolstering a CRM through unique third-party data was only becoming apparent to the financial services industry, but for an industry that is working hard to look around corners and build products for the wealth businesses and consumers of tomorrow, deeper data and the ability to analyse that will be a significant aid to success, Hoven said.
“With the Design & Distribution Obligations & Product Intervention Powers Act due to come into force in October next year, better information and data analysis on how intermediaries service their target markets can provide product providers confidence that they meet these new regulatory obligations. They now effectively share the best interest duty responsibility with financial advisers.”
Hoven said the acquisition of Crinkle Cut Digital represented the latest growth step for Adviser Ratings, following its equity raise in June and its recent Together Australia campaign which links Australian financial advisers up with members of the public who need financial guidance in these trying times.