Comprehensive advisor marketing platform FMG Suite will be acquired from K1 Investment Management by private equity firm Aurora Capital Partners, according to a K1 announcement on Thursday.
Until the sale, K1 was the only institutional investor in FMG Suite, augmenting the marketing platform with acquisitions along the way: Advisor Launchpad, Advisors Assistant, Agency Revolution, MarketingPro and Platinum Advisor Strtegies.
"We are grateful for our partnership with K1 and the operational expertise they implemented to help invest in and grow the company," said Scott White, CEO of FMG Suite, in released comments. "K1 shared our vision to transform marketing automation for financial advisors and insurance agencies to allow them to build their businesses, expand their influence and strengthen customer relationships."
FMG Suite was founded in 2011 by Craig Faulkner, with Scott White taking leadership of the marketing platform in 2016. The fintech employs more than 200 employees and serves over 40,000 financial professionals.
FMG Suite becomes the eighth investment in Aurora Equity Partners V. All told, Aurora has bought more than 25 fintech companies as part of a buy-and-build program, and it plans to accelerate FMG’s growth-by-acquisition strategy.
The transaction is still subject to regulatory approval. Additional details were not released on Thursday.