Padua Solutions, a leading innovator in financial advice technology and services, has acquired Wealth Data, Australia's premier provider of structured adviser and licensee data, superannuation and SMSF insights.

The acquisition follows Padua’s recent successful capital raise, initially targeting $5 million but significantly oversubscribed, closing at $7 million. The capital raise was supported by funds managed by Acorn Capital as cornerstone investor, marking its third investment in Padua Solutions.

Funds from the capital raise will support strategic acquisitions and technology enhancements - including digital automation and AI - to further strengthen Padua’s leadership in tech-enabled financial advice solutions. Wealth Data founder Colin Williams joins Padua Solutions as part of the acquisition, reporting to Rudy Haddad, Padua’s head of data, research & technical advice.

The acquisition significantly enhances Padua’s capabilities in delivering adviser, superannuation, and SMSF insights, directly supporting Padua’s mission in empowering advisers to build stronger futures for more Australians.

Key benefits for Padua's clients and the broader financial services industry include:

• Enhanced Wealth Insights - Wealth Data provides Australia’s most comprehensive and structured financial adviser and licensee data, superannuation and SMSF insights enabling more targeted, effective adviser support and client engagement.

• Improved Market Intelligence - Access to deeper insights into adviser and licensee, superannuation and SMSF trends supports Padua’s clients better understand market dynamics, enhancing their strategic decision-making and competitive advantage.

• Immediate Client Benefits - Wealth Data’s existing relationships across platforms and institutions will broaden Padua’s client base, offering immediate opportunities for enhanced service delivery and collaboration.

• Increased Industry Influence - By acquiring Wealth Data, Padua reinforces its leadership position and commitment to supporting the advice, superannuation, and SMSF community, fostering a healthier and more informed financial services market.

• Greater Innovation Potential - The integration of proprietary adviser, superannuation, and SMSF insights enables Padua to drive ongoing innovation in data analytics and AI, benefiting advisers and institutions with continuously improving solutions.

Matthew Esler, co-Founder and CEO of Padua Solutions, said, “The acquisition of Wealth Data is a significant step forward in our vision to deliver the most powerful and actionable insights to the financial services industry. Colin Williams and his expertise will significantly enhance our offering and our ability to support our clients' growth and success. The strong response to our capital raise reflects confidence in our strategic vision, and we look forward to announcing additional acquisitions soon.”

Colin Williams, founder of Wealth Data, added, “Joining Padua presents an exciting opportunity to further enhance how our data insights drive positive outcomes in financial advice and financial services. Together, we will continue innovating to deliver unparalleled value and insights to the industry.”

Matthew Sheehan of Acorn Capital and a director of Padua Solutions said, “We believe that with its technology and data, Padua is poised to revolutionise the advice sector.  The acquisition of Wealth Data is a step to achieving this goal and we are excited to continue to support Padua’s ongoing growth and look forward to their continued success.”

This strategic acquisition underlines Padua’s commitment to continually raising the bar in financial advice through advanced technology, robust data solutions, and exceptional client support.