Capita today announced that it has acquired Synaptic, a major provider of research information and software aimed at independent financial advisers (IFAs) and financial product providers, for an undisclosed sum.

Synaptic's tools, which are already used by more than 10,000 IFAs and many major product providers, support systematic, thorough, product research across the financial services marketplace including pensions, life, health, investment, mortgage and offshore products.

It is an ideal 'fit' with Capita's Enabler initiative, which already includes Webline and Quay Software, and is another major step towards a fully integrated and e-enabled solution for professional advisers.

David Carrie, Chief Operating Officer of Capita Enabler, said:

"This acquisition will further reduce the barriers to IFAs adopting technology. It means that they can benefit from best in class software without having to deal with lots of separate suppliers.

"Enabler will also give IFAs more control over their operations, as they will be able to produce a single compliance audit trail; it increases the operational efficiency of the business as it removes the need to enter the same data repeatedly; and it will give advisers the opportunity to focus on building the value of their business rather than spending their time assembling and maintaining a diverse, and incompatible, collection of software tools."

Selwyn Herring, Chief Executive Officer of Synaptic, said:

"Since 1994 Synaptic has focused on the delivery of accurate data and highly usable tools that enhance the decision-making process. Enabling advisers to deliver a superior service while building trust with clients is our aim. The Capita Enabler programme has exactly the same goal. Synaptic complements the capabilities of Quay and Webline, allowing an adviser to conduct a fact find on Quay, research suitable products on Synaptic and quote and apply on Webline. The deal will also help us to accelerate our plans for expansion and further innovation in the sphere of financial services software."