FE has agreed to take a minority “non-controlling” stake in Square Mile, the consultancy founded last year by Richard Romer-Lee and Nigel Whittingham following their departure from OBSR.
Square Mile Investment Consultancy and Research provides investment services, including fund research, consultancy and model portfolios and will now be able to access FE quantitative data, boosting its offering for the adviser community.
Upon Square Mile’s fund rating service launching by Q3, both companies’ fund factsheets will feature FE Alpha Manager, Crown Ratings and Square Mile ratings in a single resource.
Threadneedle’s former chief executive and chairman Simon Davies was appointed as chairman of Square Mile earlier this year.
He said: “The strategic partnership with FE is a major initiative for Square Mile. FE has an unrivalled reputation in the market and we look forward to a long and fruitful alliance.
“With the increased regulation, there is a need for clients to undertake strong fund governance using both qualitative and quantitative research. This is a strategic partnership with FE enabling Square Mile to provide the level of high quality due diligence fund research that financial advisers and wholesalers require in today’s competitive environment.”
FE managing director Michael Holland said: “We have had a long association with the senior management team at Square Mile during their former years at OBSR. We share a similar culture, worked with them on mutual clients and have similar objectives to provide clients with the best solutions. This strategic partnership will deliver enhanced solutions to all our clients and we are looking forward to working with Square Mile.”
