Fintech company Iress has acquired O&M Systems — a firm providing pension and investment data and comparison tools for financial advisers.
O&M, which started in 1992, has over 2,000 clients. This includes both pension and platform providers and advice businesses.Members of the existing O&M Systems team will be joining Iress.
Iress says the software will further strengthen its advice offering in the UK. It will integrate directly into Iress’ Xplan software and is immediately available to Iress’ clients, as well as continuing as a stand alone research service.
Iress UK managing director Phil Quin-Conroy says: “O&M is a strong business with established clients and software that is a strategic addition to our advice software Xplan.
“Integrating O&M into Xplan will provide advisers with a powerful, combined advice and research solution.”
O&M Systems managing director Graham Miller adds: “I am confident our clients, providers and our team will benefit from Iress’ broad expertise. The integration with Xplan will enable us to grow our offering to a wider market whilst we maintain our commitment to providing accurate comparisons, comprehensive data analysis, client facing reports and great customer service to our existing user base established over the last 28 years.”