Financial Planning
FinaMetrica merges with global software provider

Australian-based risk specialist FinaMetrica has merged with a Canadian investment and financial planning software provider.

Having already collaborated for more than a decade, Toronto-based PlanPlus and FinaMetrica, under the umbrella of PlanPlus Global, will offer an integrated solution to banks, investment managers and financial advice organisations looking to build global scale.

In addition, both companies will continue to offer their stand-alone products - innovative multi-currency, multi-jurisdiction financial and investment planning software from PlanPlus; and personal financial risk tolerance measurement tools from FinaMetrica.

As a result of the merger, Finametrica co-founder Paul Resnik is now PlanPlus Global director of global markets, while fellow co-founder Geoff Davey has left the business, having already retired from executive roles in 2015.

"FinaMetrica's world leading reputation in financial risk tolerance is largely the result of Geoff's insight, intellectual rigour and hard work. We thank him and wish him a long and happy retirement," Resnik said.

Resnik added that the merger represents an extraordinary strategic match that will service more than 30 countries.

"Our products complement each other and we share a common commitment to delivering financial systems that prioritise client's best interests. Meanwhile, we both have global businesses serving the corporate market and individual advisers," Resnik said.

"The merger comes at just the right time for us to meet the market's demands for an affordable, scalable and defensible advice solution that can be applied internationally across platforms, channels and borders."

As such, PlanPlus Global is accelerating its growth strategy to include an expansion of its collaborative scaled advice platform from DIY to adviser-driven. It is also exploring the opportunities in big-data and artificial intelligence as a means of strandardising and automating the Know Your Client process.

The merger will see all PlanPlus and FinaMetrica employees continue on with the new entity, with Sydney now representing the fifth major city in which PlanPlus has an office.

Read more: FinaMetricaPlanPlusPlanPlus Globalfinancial adviceGeoff DaveyPaul Resnikrisk profiling
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