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Davy buys iCubed invest consultants

Tuesday, January 07 14:27:28

Davy today said that it has agreed to buy investment consultancy iCubed (www.icubed.ie) for an undisclosed sum.

iCubed provides consulting, research and training services to financial brokers on investment funds and markets.

iCubed will be become part of the Davy Select business unit which has responsibility for financial brokers and intermediaries.

Commenting, Tony Garry, Chief Executive, Davy, said: "Davy is very pleased to have the opportunity to acquire a young but highly respected business in iCubed. iCubed has played a significant role in assisting Irish brokers to implement financial advisery and investment management processes."

"The iCubed business will be highly complementary to the Davy Select adviser platform. This platform allows financial brokers build world class investment portfolios from a choice of over 10,000 investments."

"Together with Davy Select, iCubed will offer a compelling proposition to the adviser community, and the acquisition underscores Davy's commitment to the intermediary market."

Gary Connolly, Principal iCubed, said Irish advisers are implementing significant change in their investment processes to ensure they are meeting ever rising standards and international best practice.

"The significant investment resources of the Davy group will allow iCubed to deliver an enhanced and expanded range of services to Irish advisers."