Support services provider threesixty has bought a 25% stake in outsourced paraplanner service The Timebank.
Threesixty managing director Phil Young will take a board position at the firm, run by Damien Davis, as part of the deal.
Young said the two businesses had mutual clients for a number of years.
"We are all delighted to be working with Damian and The Timebank team: the opportunity to invest in and grow a paraplanning business in the UK is really exciting," he said.
"We've been very supportive of the emerging paraplanning profession for some time so this is a natural step for us. Harnessing our compliance and technical expertise to The Timebank's planning prowess is a very compelling proposition."
Davies added: "We were honoured when threesixty approached us with this opportunity and the timing couldn't be better for us.
"Whilst we have built the business to the current point organically, this relationship gives us the opportunity to speed up our plans and launch some new services to help IFAs capitalise on the current environment.
"We are a small business, and we will learn a great deal from welcoming Phil to the board as he is very experienced and widely respected in the profession.
"What is important to us is to innovate, and so we are really looking forward to continuing to improve the delivery of paraplanning services to our clients. This is one of those relationships that just makes sense, so we couldn't be more excited."
To promote 'long-term investment'
Switching 'hard and expensive'
Smaller funds still packing a punch
To drive progress