Friends Provident and HBOS invest in Thinc Destini

Thinc Destini has attracted multi million pound investment from three major City institutions. .

It approved the investment at an EGM last week, with Friends Provident and HBOS Financial Services valuing the company at 109m.

In addition to this investment, Prudential has also backed the company with a multi million pound financial support package that will assist the companys continued growth.

Simon Chamberlain, group chief executive of Thinc Destini, says: This investment demonstrates our strong standing in the financial services industry.

“We are unique and we have the model, the infrastructure and the personnel in place to change and modernise the way we buy financial services in the UK.

“We create value and maintain ownership of our client base in a way that traditional IFA businesses do not.

The Thinc Destini proposition is based upon providing clients with a one-stop-shop access to relevant products and services, which are charged according to their individual needs at a particular time in their life.

Thinc Destini maintains ownership of the funds under management and by retaining that income creates true added value for shareholders and the consumer.

Chamberlain adds: This is a model that the industry is excited about and which clearly represents the future of distribution in the UK.

“This is why we have attracted significant interest and financial investment from major players who are excited by our business.

“We have successfully developed our model during the last four years, taking into account depolarisation and the fact that clients need different services at different times and often need to see specialists.