Fin365 a software provider for the financial services industry, has announced it will acquire miPlan, a self-licensed financial planning business with the intent of launching a hybrid-advice platform.
The core of Fin365’s software platform is a customised version of Microsoft Dynamics CRM. On top of the CRM, Fin365 provides client facing applications as well as a comprehensive set of data feeds and integrations with other financial services technologies.
According to Fin365’s CEO, Stephen Handley, this latest evolution is in keeping with its founding mission.
“From inception, Fin365’s mission has been to provide a greater number of consumers access to high quality financial advice. While historically our software has been employed by financial services businesses, its underlying capabilities can equally be applied to deliver simple/scaled advice to consumers who are not ready for a full-service model.”
The acquisition of miPlan, which coincidentally began life as an online life insurance provider, provides Fin365 the AFSL and strong consumer facing brand required to build out its hybrid advice model. The new model will leverage Fin365’s existing CRM & client engagement platform, which will be further enhanced to include integrated investment and insurance offerings.
Unlike earlier Robo Advice platforms, Mr. Handley indicated Fin365’s innovative hybrid approach would provide more flexibility and choice as well as a seamless transition to full-service advice.
“Consumers who engage directly with the miPlan platform will be able to select from variety of DIY service levels. At the point they identify a need for full-service advice, they will be seamlessly transitioned to a financial planning firm whose practice management system is directly connected to the platform. As far as the consumer is concerned the full-service offering will feel like a natural continuation of the DIY service”
Fin365 plans to roll out the miPlan branded version of its platform over the course of 2022 and will also release a white label version that financial services firms can use with their own clients.
About Fin365
Fin365’s innovative software solutions enable high quality financial services to be delivered more affordably, through multiple channels, providing consumers flexibility with how they engage/access services, depending upon the complexity of their needs at any given time.
Leveraging the power of Microsoft 365 enterprise technologies, Fin365 has added the necessary data management, connectivity and functionality required to turn these powerful tools into instantly useful solutions that deliver tangible benefits for financial services businesses and their customers.
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