Fintel PLC on Thursday announced a ‘key’ expansion to its strategic distribution agreement with BlackRock Inc.

Fintel is a Huddersfield, England-based technology and support provider for the retail financial services sector. BlackRock is a New York-based asset manager, one of the world’s largest.

BlackRock’s MyMap funds will join Fintel’s risk controlled investment solutions, ensuring that its suite of multi-asset funds become ‘central’ to the investment process of the advisers who use its financial planning technology.

‘Delivered by SimplyBiz and Defaqto, both part of Fintel, the risk controlled investment range is designed to improve both adviser efficiency and consumer outcomes, enabling product manufacturers to cater to consumer preferences and risk profiles by optimally aligning investment solutions to the advice and research processes powered by Defaqto,’ Fintel explained.

This is an extension of the managed distribution agreement that BlackRock has had in place with Fintel since November 2020.

Fintel did not disclose the financial details of the agreement.

Chief Executive Neil Stevens said: ‘We are delighted to extend our risk controlled solutions to BlackRock MyMap Funds. It is fantastic to see a world-leading asset manager focussing its fund research and transparency around clear client outcomes, that can be properly and independently analysed by professional advisers using our software. This will deliver better outcomes for all.’

Shares in Fintel were up 1.7% to 213.00 pence each in London on Thursday afternoon.

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