Octopus Group has successfully wrapped its tentacles around a wealthtech start-up, part of its ambition to disrupt the platform technology market that underpins retail financial services.

The Financial Conduct Authority has approved Octopus’s acquisition of Seccl Technology for £10 million. The proposed deal was announced in August.

Seccl targets wealth managers, financial advisers, and DFMs. Its product offering includes custody, investor and professional portals, settlement, and portfolio rebalancing tools.

Octopus described it as delivering “faster, cheaper and more flexible platform solutions to help ...