Fintech firms behind robo-adviser miPlan merge

By Moriah Costa on Tuesday 8 August 2017

Savings and Investment

FinaMetrica and PlanPlus are joining forces after a decade of collaboration.

FinaMetrica and PlanPlus are joining forces after a decade of collaboration.

Sydney-based fintech firm FinaMetrica is merging with Canadian company PlanPlus after working together for 10 years.  

The two companies had previously collaborated on a robo-advice white label platform called miPlan. The robo-advisor is a “drop-in” application for firms that already have asset management platforms and want to offer retail options for clients.

PlanPlus is a financial planning software company used in 30 different countries by 12,000 users while FinaMetrica is risk profiling and regulation technology firm. The two will merge under a parent company called PanPlus Global but will continue to offer products on a stand alone basis.

“The strategic match between FinaMetrica and PlanPlus is extraordinary,” said Paul Resnik, FinaMetrica co-founder. Our products complement each other and we share a common commitment to delivering financial systems that prioritize client’s best interests. Meanwhile, we both have global businesses serving the corporate market and individual advisors. 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.”

The merger will allow the company to offer solutions for banks, investment managers and financial advisers around the world. It plans to expand its collaborative platforms and robo-advice technology and explore the potentials of big-data and artificial intelligence to standardise the client identification.

Its customer base is concentrated in Canada, the US, UK and Australia, with many users also located in India, Germany, South Africa, and Malaysia.

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