Punter Southall Aspire will become the company’s investment administration platform provider, offering its clients investments in ISAs, GIAs and SIPPs, using a range of multi-asset funds administered by Punter Southall Aspire.
The company will also offer financial planning services and advice to Lexikin’s corporate and individual clients on the investment of assets.
Established in 2015, Lexikin describes itself as a ‘digital executor’. Its platform allows clients to confidentially record personal assets and then bequeath, insure and invest them. Listed executors can securely access the online digital vault following the death of an individual using LexisNexis to prevent fraudulent access.
The company’s partners include an international network of leading law firms, a global insurance company and charities.
Punter Southall Aspire CEO Steve Butler will become a non-executive director on the company’s board, providing counsel and guidance.
The deal is another step in Punter Southall Aspire’s goal of growing its investment platform and retail advisory business, established this year with the acquisition of IFA Focus Oxford.
Lexikin also offers services through strategic partners including insurance solutions through Arthur J Gallagher, wills and codicils through its network of partner law firms in the UK and Ireland, asset valuation through Dreweatts, a top auctioneer and valuer, and a service that records people’s precious memories and images using videos and books.
Butler says: “We are delighted to make an investment in Lexikin – an ambitious and innovative technology start-up, which is a great fit for Punter Southall Aspire. The company has attracted an impressive number of clients and partnerships in a short time, including law firms, charities and a global insurance company. We’re pleased to be offering investment solutions and advice to help its clients manage their financial lives. We are also excited to be part of Lexikin’s future growth and success.”
Lexikin founder and CEO Simon Stewart says: “Lexikin was founded as a result of my own experience when we lost information about my wife’s grandmother’s extraordinary life following her death. I wanted to create a secure platform to record all my family’s important documents and information, to make sure they got passed on correctly, should something happen to me. As a business, we’re expanding fast and with Punter Southall Aspire’s investment and support, we are confident we can achieve our next phase of growth. Lexikin has clever online ways to bequeath and insure your assets – we will now be able to add smart investment capabilities with dynamic feeds.”