PlannerPal Raises $6 Mn to Transform AI-Powered Financial Advice

PlannerPal has grown quickly as financial firms look for AI tools that can work with the client data and systems they already use. The platform is now used by more than 250 UK financial advice firms, including 20% of the UK’s top 20 wealth managers. Its customers include Canaccord Wealth, ValidPath and Amber River, while the firms using PlannerPal collectively manage around £150 billion in client assets.

The company will use the new funding to expand its engineering and product teams, support the rollout of its platform to more customers and develop its client intelligence capabilities.

Mark Whitcroft, CEO and co-founder of PlannerPal, said: "Financial advice firms are sitting on an extraordinary amount of valuable client information, but much of it is fragmented across conversations, documents and different systems. The first opportunity for AI was obvious: remove the manual work of capturing it. The bigger opportunity is making the client data firms already hold work better. We don't believe the answer is another disconnected AI tool sitting outside the core systems of the business. A firm’s AI and client data strategy need to work together. We've been deliberately focused on the UK market and this funding lets us accelerate the pace of growth and deliver the same opportunity to the mortgage market."

Adam Lovell, Investment Director at Mercia Ventures, said: “Advice firms have spent the last two years experimenting with AI. Those now choosing a long-term AI partner want an experienced and trusted team, backed by technology that works with their existing systems and client data, not another standalone tool. We're delighted to back PlannerPal as they build the client intelligence layer for UK financial advice. PlannerPal clients regularly refer to them as ‘partners’; sharing their vision but ultimately delivering on promises, taking away key pain points at a pace of growth aligned with each firm’s business strategy. This level of trust that PlannerPal can deliver, has accelerated an appetite to turn fragmented information into higher-quality client data, meaning that advice firms will soon be able to understand and serve their clients in ways that simply weren't possible before.”

PlannerPal is an AI-powered workflow platform for financial advice and wealth management firms. It connects client conversations, documents and CRM data in one place. This helps firms reduce administrative work, improve their client data and better understand and support their customers.

The platform is used by more than 250 UK financial advice firms, including 20% of the UK’s top 20 wealth managers. These firms manage around £150 billion in client assets. PlannerPal is built into Iress Xplan and also works with platforms such as Intelliflo, Curo, Plannr, Microsoft Teams, Zoom and SharePoint.

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