Isio has announced the acquisition of Collidr, an artificial intelligence (AI) solutions and investment management company, subject to approval by the Financial Conduct Authority (FCA).

Isio, backed by Aquiline, said the acquisition would increase its investment management capabilities in the wealth market, integrating technology, adviser tools and co-manufacturing expertise into its offering for financial advisers, including expanded use of technology and specialist staff.

Isio partner and head of wealth, Andy Tunningley, said: "This acquisition represents a significant milestone for Isio, uniting institutional capability with advancements in innovation and technology.”

He added: “We look forward to integrating our collective expertise into the business, collaborating with them to deliver clarity, confidence and better outcomes for advisers and their clients."

Collidr was founded in 2010 and operates through two entities: Collidr Technologies Limited, which provides AI-based tools, and Collidr Asset Management Limited, an FCA-regulated investment management business.

The company reported that it managed more than £3.8bn in assets.

Collidr group CEO and founder, Symon Stickney, commented: “Collidr was created to address the needs of investment advisers.

"We have built upon this heritage to develop AI-driven technology and investment solutions that help advisers deliver better outcomes, guiding investors to their financial goals.”

“Becoming part of Isio is an important move to reinforce this position, and the partnership promises to deliver more extensive, client-focused solutions that are genuinely exciting for the market.”

Pending regulatory approval, Collidr’s team will join Isio Investment Solutions.

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